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NEW research published by Scottish Enterprise (SE) today, 11 July 2022, reveals that capital investment secured by Scottish business increased by 36% to £690m in 2021, up from £509m in 2020 Mr.
Based on data from Beauhurst, the research examines the performance of the Scottish capital investment market and compares it with other UK nations and regions.
The Venture Capital Market Report 2021 confirms that Scotland’s vibrant investment market is among the best performing of the UK nations and regions. Scotland is placed in the next best performing quartile outside the Golden Triangle of London, the South East and the East of England, both for the number of deals and the amount raised.
There has been strong early-stage growth in the sub-£10m deal group, in addition to an increase in the number of Scottish companies raising larger investment rounds above £10m. These include Amphista Therapeutics £38.1m, Enough (formerly 3FBio) £35.9m and Build a Rocket Boy £36m.
Kerry Sharp, director of entrepreneurship and investment at Scottish Enterprise, said: “This latest research is hugely encouraging and shows that the Scottish market continues to grow thanks to a diverse mix of investors working together to bring more funding to innovative young companies . “
“Nearly twenty years ago, SE took a pioneering co-investment approach which aimed to transform Scotland’s venture capital market and cultivate a positive environment for entrepreneurial business.”
“Since then we have attracted over £2bn of private investment in Scottish companies and have seen the environment grow stronger where our most promising and innovative young businesses are supported with the investment and advice they need to launch, commercialise and scale.”
Scotland’s strengths include increasing investment from venture capital investors as well as an organized and established business angel market. A growing number of Scottish companies are already successfully attracting international investment.
Challenges remain in the investment market and are shared across the UK. These include many investors preferring later stage and larger investments.
Focusing efforts on growing early stage companies and attracting international investment to Scotland is becoming even more important. These are start-ups, spin-offs and early-stage companies with the potential and ambition to scale, bringing new solutions and technologies to market in sectors where Scotland can boast a competitive advantage.
Scottish Enterprise’s focus is to nurture and develop this process with tailored advice and support and to co-invest with private investors to increase the availability of capital investment through its Scottish Co-Investment Funds.
Kerry concluded: “In terms of our future focus, the importance of our support for early stage companies as part of Scotland’s supporting ecosystem has never been clearer. It is vital that Scotland continues to support an investment community working with a variety of investors who are committed to providing early stage patient investment. This, together with the right advice and support, is fundamental to an entrepreneurial Scotland that can create jobs and deliver innovative solutions for the future.”
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