One of the many unintended consequences of the pandemic is that there is a wall of money – some would say hot money – chasing tech start-ups and other young growth companies here in the UK and across the globe. Wealthy investors have more money, thanks to the crisis measures used by central banks, and they are looking for exciting places to deploy their capital.

The wall is so vast that one Cambridge-based corporate financier cum investor, who specialises in tech and healthcare companies, tells me he has completed more transactions involving start-ups and second round investments in the last year than in the previous decade. Other business angels, syndicates and VC investors are reporting similar stories: one golden triangle investor says that such is the appetite for new growth opportunities that companies are now charging investors to see their presentations and listen to their pitches.