The BVCA has published the most recent edition of its Nations & Regions series, focusing on private capital's support for businesses across Scotland. The report highlights that private capital firms invested nearly £900m into 88 Scottish businesses in 2021 - a strong increase on previous years, with £213m and £271m in 2020 and 2019 respectively. This investment is powering SMEs across Scotland, with 9 in 10 of the businesses backed employing 250 or fewer people. BVCA research has found that tech was the most attractive area for investment, with 65% of all Scottish businesses supported in 2021 operating in this sector.
Charlie Troup, BVCA Chair 2022/2023, Managing Partner, Duke Street Capital says, “Scotland is a nation teeming with innovative businesses and ambitious entrepreneurs. For example, the tech ecosystems in Glasgow and Edinburgh are now ranked amongst the top 5 in the United Kingdom. Private capital firms, of all shapes and sizes, are alive to the many fantastic opportunities available to fund and support Scotland. This report demonstrates how the private capital industry is investing in Scotland’s businesses of today and the businesses of the future, playing its part in addressing the climate crisis, making people’s lives better and making a significant contribution to the economy in Scotland and the whole UK.”
In addition to the new analysis and insight discussed in the report, several BVCA member-backed companies from across Scotland have been included as case studies. These case studies provide a great opportunity to showcase how private capital is enabling companies of all sizes to innovate, flourish and grow.
Douglas Graham, Finance Director at NCM Fund Services says, “We are delighted to see this injection of private equity into Scotland and some of the fantastic homegrown businesses we have here, allowing them to springboard into the next phase of their growth. We are lucky to work with many Scottish managers and those from other regions investing into Scotland and very much enjoy being part of their fund ecosystem and following the journey of their various investments. We hope that this level of investment will continue and fuel the growth of the immense talent pools that lie within Scotland. We find as a fund services company based in Scotland we can recruit, and importantly retain, great talent which gives us the ability to provide best in class quality fund administration with continuity of personnel and it is good to see fund managers recognising this too and supporting Scottish based founders”.
Read the full report here: BVCA Nation & Regions Scotland Report