The Scottish Investment Bank has delivered a solid performance in the last year, investing £23 million in 109 Scottish companies and leveraging £53.7 million of private sector investment.
Figures in The Scottish Investment Bank’s annual review for 2010-2011 reveal that more than £422 million of risk capital has been raised for Scotland’s early stage technology businesses since the equity funds were introduced by Scottish Enterprise in 2003.
Equity investment in Scotland’s most promising companies has continued at a steady pace despite the economic downturn. At a time when investors across the UK show restraint and the angel market has declined by 25 per cent, Scotland is continuing to buck the trend with steady investment levels in recent years, evidencing the key role which the Scottish Investment Bank plays in stimulating private sector investment through its co-investment approach.
Encouragingly, the past year has also proved to be the Scottish Investment Bank’s most fruitful year to date for generating income from the portfolio, with a total of seven exits, helping to produce £10.8 million in returns for the organisation.
Scottish Enterprise chief executive, Dr Lena Wilson, said: “Scotland continues to produce exciting innovative young companies with emerging technologies, products and services that boast global potential and our equity funds continue to drive further investment and confidence in those companies.”
“We are eager to explore new opportunities and routes to increase access to finance for Scotland’s business sectors and will continue to work closely with the private sector to bring new products and services to encourage economic growth.”
Scottish Investment Bank Annual Review 2010-2011 (PDF, 1.1MB)
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