Brexit could boost the U.K.'s ability to create the next several-hundred-billion-dollar technology firm, according to a top Silicon Valley venture capitalist and former Apple executive.
Last year, Britain voted in a referendum to leave the European Union and on Tuesday, U.K. Prime Minister Theresa May gave a speech suggesting that any deal reached with European lawmakers will be put to a parliamentary vote.
It's unclear how this could play out, but May said that Britain would leave the single market. Joe Schoendorf, a VC at Accel, said getting rid of EU regulation could help the country's start-up sector grow bigger.
"I think if you had to pick one country to invest in Europe today, you'd pick Great Britain … and the reason you'd do it is because of Brexit. One of the things that the U.S. government has been really good at … is leaving Silicon Valley mostly alone," Schoendorf said during a panel discussion at a CNBC-hosted event.
"Government regulation and free enterprise and start-ups trying to be something are pretty incompatible. And so with Brexit and Great Britain pulling the EU out of the loop, I think you will be surprised with the momentum with that sector in particular."