Scottish-based investment syndicate Kelvin Capital completed record investment of £7.8 million in the first half of 2023.
It was 22% higher than the same period in 2022.
It invested in five of its portfolio companies alongside Scottish Enterprise: WellFish Diagnostics, KultraLab, Dyneval, Peacock Technology and FreeFlow Technologies.
A further £1.8m was secured for three other portfolio companies – Innovatium, Sofant Technologies and Biotangents – in the first two months of H2 2023.
The investment group was founded by industry experts John McNicol, Angus Hay and Susie Fisher. It has more than 340 UK and international angel investors, a portfolio of 20 companies and has secured investments of over £106m to date from its syndicate members and external co-investors.
“The quality of Scottish-based businesses working in disruptive or pioneering technology continues to increase and we are thrilled to be backing them at the forefront of their global ambitions and journeys,” said Stuart McKee, chair and former global head of corporate finance for PwC.
“Our investment activity continues to grow with the first half of 2023 raising the most for our portfolio businesses to date.”
Director McNicol added: “As well as providing funding to exciting early-stage businesses in the enabling technologies, AgriTech, and design & manufacturing sectors, we also provide valuable industry expertise to companies’ boards from individuals from our membership and vast network with high level knowledge of the sectors to support and drive the companies’ growth ambitions.
“It is also notable that our portfolio of businesses is maturing from early stage companies into established and recognised international operators in their sectors. This can be illustrated by the impressive deals and agreements that are being secured across the world.”