07 November 2017
SIB puts Scotland on agenda for international VC investors
The Scottish Investment Bank (SIB), the investment arm of Scottish Enterprise, will today tell a group of high profile international venture capital fund managers that Scotland is the UK’s most vibrant location for risk capital investment outside the ‘Golden Triangle’ of London, the South East and the East of England, at an event co-hosted with the European Investment Fund (EIF) at Scotland House in London.
The event is in response to the high level of interest from funders that has been shown for the new Scottish European Growth Co-Investment Programme (SEGCP); a joint Scottish Enterprise and European Investment Fund initiative of £100m which leverages private sector monies – bringing the programme to £200m. The event puts a spotlight on the Scottish market and investment opportunities and is part of a wider approach to attract international investors and facilitate even stronger connections with London-based investor community and beyond.
The initiative allows Scottish companies to seek later stage investment from EIF accredited fund managers, which will then be matched by Scottish Enterprise and the EIF. Scottish Enterprise works with companies to help them to identify appropriate fund managers and prepare for securing investment.
Companies looking for significant investment are now able to access an additional £200m through this programme; the first part of the Scottish Growth Scheme, a £500m financial package backed by the Scottish Government, to help businesses thrive and grow.
In 2016, Scotland’s risk capital market witnessed the highest number of investment deals on record – an increase of 33% on the year before. 2017 results to date indicate a continuation of this trend and this additional funding will help to build on this track record.
Kerry Sharp, director of the Scottish Investment Bank, said: “We work with a diverse investor base and are making solid progress increasing the supply of investment capital into Scotland. The launch of the SEGCP earlier this year presents a further opportunity to collaborate with the EIF and international investors to secure even more later stage investment into Scottish companies. We are continuing to encourage Scottish companies interested in equity to grow or scale their businesses to contact SIB to discuss their funding ambitions.”
About the Scottish Investment Bank
The Scottish Investment Bank (SIB) is the investment arm of Scotland’s main economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of co- investment funds including the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF), and the Renewable Energy Investment Fund on behalf of the Scottish Government. SIB is also an investor in Epidarex Capital’s life sciences fund and is a participant in the Scottish European Growth Co-Investment Programme funded by the Scottish Growth Scheme alongside the European Investment Fund. SIB provides a team of Financial Readiness specialists to help companies prepare for new investment and access appropriate finance. SIB’s activities support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital.
For more information on the new scheme, how it works, what to do if you're a fund manager, etc, visit http://www.eif.org/what_we_do/resources/scottish-european-growth-co-investment-programme/index
Companies looking to secure this investment or explore the option, should in the first instance approach the Scottish Investment Bank for advice and support.
The aim of the Scottish Growth Scheme is to unlock additional investment in the economy by boosting finance available to companies seeking to grow and expand their business. Further details of the Scottish Growth Scheme can be found: www.mygov.scot/scottish-growth-scheme
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