Investment into the UK tech companies from Silicon Valley has soared by 252 per cent since 2011 and broken through the £1bn mark for the first time.

According to a new report produced by law firm Penningtons Manches, British companies are enjoying an unprecedented period of investment from West Coast-based US firms.

The 'From the Golden Gate to the Golden Triangle' report found that 74 deals contributed to a total value of £1.08bn in 2018, with the vast majority of US investment going to tech companies operating in the UK's Golden Triangle, including London, Oxford and Cambridge.

The research shows that the number of deals from Silicon Valley into UK firms has increased by 252 per cent since 2011, with software companies taking the lion’s share of this investment followed by life science firms.

"We are delighted that the findings from the report reveal such appetite from West Coast investors to nurture Britain’s most innovative, high potential firms," said Penningtons Manches partner James Klein.

"Penningtons Manches has a long history of working with technology firms, their innovators and their investors, and we launched our San Francisco office to better support our growing client base in the Bay area and to develop meaningful connections between our US clients and the fast-growth tech businesses in the UK that we represent."

Although West Coast investors were involved in more deals, the report found that East Coast investors have provided more capital, investing £1.31bn into UK companies in 2017.

Between 2011 and 2017, the total number of deals by East Coast investors into UK companies rose by 48 per cent from 29 to 56.

According to the findings, the investment reflects a wider trend of inward investment into UK companies which is seeing a rise across the board.

Despite concerns about Brexit, the report unveils a 62 per cent increase in foreign investment into UK firms in 2017, a third of which were by North American investors and a quarter by those in the United States.