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Scottish Equity Partners closes new £260m technology focused fund

Scottish Equity Partners (SEP) is pleased to announce that it has raised £260 million for a new venture capital fund.

SEP V, which was over-subscribed and has closed above target, will be invested in high growth technology and technology-enabled companies mainly in the UK and Ireland, although investments in companies in other European countries will also be considered.

The new fund will follow a strategy that is consistent with previous SEP funds, making investments of up to £20 million in growth-stage technology companies led by ambitious management teams, and playing an active and supportive role in their development.

Investors in existing SEP funds account for approximately 90% of commitments to the new fund, endorsing its strong investment track record and reputation. UK investors make up 40% of the fund, with the remaining 60% contributed by investors based in Europe and the United States.

SEP’s Managing Partner Calum Paterson said: “This is another great milestone for us and reflects extremely well on the calibre of our team. The new fund gives us a very strong platform to continue to invest in companies with world class potential and we thank all of our investors for their support.”