Firm strikes unique investment deal
Par Equity unveils $125m US-Scotland tech fund
The fund will be focused on the health technology sector and the Edinburgh-based firm will be the first Scottish venture capital company to be fully regulated in both the UK and the US.
As Scotland’s top source of inward investment the US accounts for 36% of projects and is the second largest export partner – worth £4.56 billion a year, making up 15.9% of all international exports.
First Minister Nicola Sturgeon announced the initiative with representatives of Par Equity at Stanford University ahead of making a speech on Scotland’s place in the world.
She said: “Scotland’s performance in the science and technology sector continues to grow and this announcement is testament to its success both at home and abroad.
“I hope this will be the first of many success stories in our health technology sector.”
William Guilfoyle, managing director of Par Equity USA, said: “We are excited for the opportunity to work with Scotland’s international leadership team in facilitating medical technology investment across the US and UK, which will promote strong growth while enhancing the lives of both Scottish and US citizens.”
Lena Wilson, chief executive of Scottish Enterprise, said: “We have co-invested with Par Equity in some of Scotland’s most exciting and ambitious early stage growth companies and today’s announcement will open up new opportunities for many of them, as well as their peers in the US.
“This will also help cement Scotland’s growing reputation for its health technologies and as a great place for globally-minded companies to locate and grow.”
Par Equity Fund will raise funds for digital health technology companies with proprietary technology and proven commercial products ready for transatlantic expansion either from UK to the US or from the US to UK.
The Fund will be built, developed, advised and operated by practitioners and specialists from across the science, medicine and engineering disciplines, and will strive to deliver transformation in healthcare solutions and capture strong, stable and sustainable returns for investors.
Par Equity is an owner-managed multi-asset investment firm established in 2008. Its business model combines business angels, managed funds, and institutional co-investors for investment in high growth potential international companies. The current portfolio of investments includes more than 30 companies.