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Apply to be a Scottish Co-investment Fund partner

We're currently looking for applications from a wide range of investors who'd like to be considered for accredited partnership status of the Scottish Co-investment Fund.

Investment is central to driving sustainable growth. Through our investment arm, the Scottish Investment Bank (SIB), we have a strong track record in the delivery of two innovative co-investment funds that address gaps in the early stage risk capital market.

One of these funds, the Scottish Co-Investment Fund, was the first public sector equity co-investment fund established in 2003. It combines private sector investor and public sector funding to make equity investments in high growth businesses in Scotland. Investment between April 2003 and March 2014 was £227 million, alongside £520 million from private sector investors.

Co-investing alongside the Scottish Investment Bank

Application pack

Download all the information you need to apply, as well as the application form.

SCF III Partner Application Pack (PDF, 1.2MB)

If you’re a private sector investor who invests in small to medium businesses, SIB has funding options that can match and unlock greater and more diverse funding to help investees reach their growth potential.

Becoming an accredited investment partner enables you to:

  • Identify investment opportunities
  • Undertake appropriate due diligence
  • Negotiate the terms of the deal
  • Invest your own funds into companies
  • Bring the deal to Scottish Enterprise if there's a funding gap

Accredited partners can call upon the Scottish Co-Investment Fund to co-invest directly into multiple opportunities, on equal terms.

For more information or to request one of our sample agreements, contact us.

What type of investors are we looking for?

We want to invest alongside experienced private sector investors with a strong track record in creating value through investment into early stage, high growth through to expanding companies.

What type of companies are we looking to invest in?

We'll invest alongside private sector investors into early stage and expanding companies with high growth potential that will deliver economic impact to Scotland. We aim to work with our private sector investors to assist our portfolio companies in achieving their ambitions through realising their export potential, drive innovation, guide access to appropriate finance and create highly skilled employment from their growing Scottish base.

Can you still invest if you're not an accredited investment partner?

Not through the Scottish Co-investment Fund but SIB will still be able to co-invest alongside an investor through the Scottish Venture Fund.

How do the funds operate?

The Scottish Co-investment Fund operates by co-investing into start-up, early stage and expanding businesses alongside accredited partners, who will source, carry out diligence and negotiate the deal and invest into investee companies. If there's a funding gap, the accredited partner can call upon the Scottish Co-investment Fund to co-invest alongside it on commercial and equal terms. It can invest between £10,000 and £1.5 million in deal sizes of £20,000 and £10 million.

The Scottish Venture Fund operates by co-investing into start-up, early stage and expanding businesses alongside a range of private sector investors. It's private sector investor-led where SIB maybe involved in negotiating the terms of the investment and undertaking any required appropriate diligence with the investment decision ultimately retained and made by SE. It can invest between £10,000 and £2 million in deal sizes of £20,000 and typically up to £10 million.

What are the investor requirements?

We invest on fully commercial terms requiring the same investor rights and protections as our private sector investors. For more information on the investor requirements included in the legal documentation for both funds, see pages 6-9 of the SCF III Partner Application Pack. 

What are the company eligibility criteria?

To be eligible for investment from the the Scottish Co-Investment Fund, companies must:

  • Have a commercially-viable business
  • Deliver economic impact to Scotland proportionate to the levels of investment being sought
  • Fall within the EU definition of a Small to Medium Enterprise (SME)
  • Secured an offer of funding from an accredited partner

What fees does Scottish Enterprise pay?

We pay a contribution to deal costs in the form of a fee to accredited partners based on a percentage of SE funds invested. For more information, see page 12 of the SCF III Partner Application Pack.

SCF III Partner Application Pack (PDF, 1.2MB)

Get in touch to discuss any aspect of SIB's activities