Scottish Equity Partners (SEP), a London, Glasgow, and Edinburgh, UK-based venture capital firm, raised £260m for a new tech fund.
Investors in previous SEP funds account for almost 90% of commitments to SEP V. UK investors account for approximately 40% of the fund, with the remaining 60% contributed by investors based in Europe and the United States.
SEP V will be invested in high growth technology and technology-enabled companies based mainly in the UK and Ireland, although investments in companies in other European countries will also be considered. It will make single investments of up to £20m.
Led by Managing Partner Calum Paterson, Scottish Equity Partners operates a portfolio of companies employing more than 5,500 people and aggregate revenues of over £1 billion.
Backed companies include:
– Edinburgh-based travel search company Skyscanner,
– London-headquartered high-end fashion business Matchesfashion,
– Manchester-based online car finance specialist Zuto,
– Berlin-based online eyewear company Mr Spex,
– Berlin-based language learning company Babbel, and
Dublin-based e-commerce analytics company Clavis Insight.
The firm, which has 45 partners and employees across its London, Glasgow and Edinburgh offices, has over £1 billion in total funds under management.