Scottish Investment Bank leverages record £99m private sector investment

Scottish Investment BankScottish Enterprise has revealed that its investment arm, the Scottish Investment Bank (SIB), invested £66.5 million into 155 Scottish companies during 2014/15, leveraging a record private sector investment of £99 million.

SIBs investment has more than doubled the amount invested during the previous year, and sees a total of 46 new companies being added to Scottish Enterprise’s investment portfolio.

The organisation has also revealed that it generated over £9.5 million of income from its investment activities.

Key results from the 2014/15 accounts include:

  • £3m of investment from the Scottish Seed Fund
  • £10.5m of investment from the Scottish Co-Investment Fund
  • £8m of investment from the Scottish Venture Fund
  • £5.8m of follow on investment into existing portfolio companies through the Scottish Portfolio Fund
  • £32.4m invested in renewable energy projects through the Renewable Energy Investment Fund
  • Over 400 companies helped to prepare for investment
  • Scottish Enterprise also invested an additional £6.2m, alongside other investors, into the Scottish Loan Fund, managed by Maven Capital Partners, which lent to twelve established SMEs with ambitious growth plans.

    Kerry Sharp
    Kerry Sharp

    Kerry Sharp, head of the Scottish Investment Bank, said: “Scotland is bursting with dynamic businesses with big growth ambitions and in the last year, we have worked with a range of companies at different stages of their development, from start ups such as Big Data for Humans through to expanding companies going global, such as Clyde Bioscience.

    “We have continued to invest into Scotland’s growth sectors, including life and chemical sciences, energy, technology and advanced engineering, creative industries and food and drink. We’ve also welcomed nine new investment partners, including seven from outside Scotland, and this is as a very positive endorsement of our ambitious Scottish company base.

    “We now have a portfolio of 275 growing companies, employing over 3500 people generating real economic impact for Scotland.”

    Deputy First Minister John Swinney said: “These welcome figures highlight a strong performance by the Scottish Investment Bank and private sector investment partners. This report shows companies receiving investment are creating quality jobs and driving significant economic growth in Scotland in world renowned technology fields, like life sciences, enabling technology and renewables. High growth companies with global market ambitions are key to support and accelerate economic growth and unlock Scotland’s long-term potential.”

    Scottish Enterprise recently announced that the SIB investment funds will be enhanced, to benefit both Scottish companies and investors through increased flexibility.

    The changes will see the four existing co-investment funds streamlined into two: the Scottish Co-Investment Fund (SCF) and the Scottish Venture Fund (SVF).

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