Agency boost

Record year for Scottish Enterprise portfolio

Adrian Gillespie: ‘exceptional year’

Scottish Enterprise has revealed that 2021/22 was a record year for its early-stage investment activities.

The agency invested £50.71 million into 102 early-stage high growth investment opportunities – which in turn helped leverage a further £257m from private sector investors.

It also proved to be the strongest year on record for attracting international co-investment with more than half of the finance leveraged coming from global venture capital firms and corporate investors.

This was as a result of ongoing work to build investor networks internationally, complementing the work of the Scotland’s Global Investment Plan.

The agency earned £106m from exit opportunities.

Adrian Gillespie, chief executive, said: “Last year was an exceptional year for our early-stage investment activities. Not only did we see a healthy number of deals, but our maturing portfolio of investee companies saw strong exit opportunities allowing us to generate significant income to re-invest in the economy.

“A key priority for Scottish Enterprise is ensuring that early-stage entrepreneurial companies with high growth potential can access the finance they need to start up and grow. “

Alongside co-investment, Scottish Enterprise also provides specialist, tailored advice and funding support to identify investors and to raise finance through its Financial Readiness Service. This service supported 269 companies.

A new chairman is due to be announced shortly following the retirement of Lord Smith.

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