Portfolio boosted

Syndicate grows as Kelvin Capital enjoys record year

Dave Hughes Novosound

Novosound, founded by Dave Hughes, was one of the investee firms

Investment syndicate Kelvin Capital achieved a record level of activity last year with members joining from Europe and the Far East.

They contributed to a 19% increase in total investments to £12.5m in 2019 from £10.5m in 2018.

In the last quarter of 2019 alone, £2.75m was invested in Scotland-based businesses including £1m into hydrogen technology company Logan Energy.  In the first weeks of 2020, £3.3m has been committed to portfolio companies.

Other significant investments made in 2019 include Biotangents, ProFactor Pharma, Novosound and Sofant Technology.

The portfolio, which has increased significantly in valuation since the end of 2018 due to many maturing investments, covers sectors including internet and app technology, biotech, life sciences and electronic manufacturing and medical technologies and continues to support disruptive technologies with global ambitions. 

Since it was founded in 2009 Kelvin has secured almost £35m in investment for its portfolio companies.

The investment group, managed by John McNicol and Angus Hay, has almost 250 members from the UK and overseas, an increase of more than 20% since 2018. 

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