SEP wins Best Venture Investment of the Year at the Real Business Awards 2011
Praising its commitment and vision, Real Business has awarded SEP Best Venture Investment of 2011 for its investment in Zeus Technology. SEP’s investment in Gigle Networks was also shortlisted. From its first investment in Zeus in 2005, SEP played a pivotal role in steering the Cambridge-based developer of software-based load balancing and web traffic management solutions towards commercial success. The company was acquired by US-based IT performance company Riverbed Technology (NASDAQ:RVBD) in July 2011 for a total consideration of up to $140 million. Beyond the capital, SEP provided advice and input at Board level, was the driving force behind a significant recruitment exercise and led negotiations with Riverbed at the time of exit, achieving a return of more than 12 times the original investment. Jim Darragh, CEO of Zeus, commented ‘SEP were great investors for Zeus and played a very important role all the way through to exit’.
SEP has won the Venture Deal of the Year in the Unquote British Private Equity Awards 2011 for the sale of cancer therapeutics company Biovex to NASDAQ-listed Amgen, in a deal worth up to $1 billion. The sale represented the largest-ever European venture-backed biotech exit and one of the biggest in the world. It achieved a significant return for SEP after first investing in Biovex in 2003. SEP’s Brian Kerr and Jan Rutherford played a key role in shaping the company’s strategic direction and in supporting management, particularly Biovex Chief Executive Philip Astley-Sparke. Biovex is developing a new class of biologics for the treatment of cancer and prevention of infectious disease. It recently completed full enrolment of Phase 3 trials for its lead product OncoVEXGM-CSF, which Amgen said at the time of acquisition, ‘may represent a new approach to treating melanoma and head and neck cancer’. Amgen’s subsequent acquisition was a good strategic fit, bringing Biovex under the ownership of a parent with an established oncology franchise, expertise in developing and manufacturing biologics, and the ability to leverage the potential of its therapeutic portfolio.
SEP wins Venture Capital Deal of the Year 2008
SEP won the ‘Venture Capital Deal of the Year’ award in the prestigious Private Equity Awards 2008 for the $275 million sale of oilfield technology company MTEM to Petroleum Geo-Services. This was a hat trick for SEP, after winning three major industry awards in the previous month. In March SEP was named Venture Capital Firm of the Year in the UK Technology Innovation and Growth Awards and it also won Technology Venture Exit of the Year for the MTEM exit. Judges at the Private Equity Awards 2008 commented on the MTEM deal: “This investment required true hands-on investing. It is one of the best venture deals we have seen in a long time and SEP was committed from the start.”
SEP named Venture Firm of the Year 2008
In 2008, SEP was named, for the second year running, Venture Firm of the Year at the prestigious British Private Equity Awards run by Unquote, which celebrate excellence and innovation across the private equity sector. The judges commented that SEP’s performance is “consistent, and consistently good.” They added: “Scottish Equity Partners is a terrific example of a venture investor backing high-risk companies and helping to grow them. They continue to perform even as others shy away from difficult deals.”
Calum Paterson, Managing Partner of SEP said: “We are very pleased to receive this award again which is a reflection of the great job done by our investment team and indeed everyone within our firm. Despite the global economic situation we remain on track and are continuing to invest in emerging technology companies with the potential to become world class businesses. We are also working hard to support our portfolio companies in these difficult times and to help them achieve their full potential.”
SEP wins Fund of the Year 2007
SEP beat competition from private equity heavyweights in 2007 to win two prestigious industry awards in recognition of its success in raising some $300 million for its SEP III fund . The SEP III fund, one of the largest venture funds raised in Europe, was named Fund of the Year at the UK Private Equity Awards, sponsored by the British Venture Capital Association (BVCA) and Real Deals. The judging panel said: “This confirms SEP’s place among the highest echelons of European venture capital.”
Stuart Rock, Editorial Director of Real Deals, said: “The judges noted that this was an exceptional fundraising achievement in a difficult market for anyone trying to raise a venture fund in Europe. The willingness of some very high quality institutions to join the fund is testament to the firm’s many successes over the past decade.”