Scottish Equity Partners has launched its most recent venture capital fund, SEP III and has already secured participations of over £120m from UK and European institutional investors.
A final decision on the size of the fund will be made within a few weeks. The firm predicts it will be one of the largest venture capital funds focused on UK technology companies.
SEP managing director Calum Paterson said: “We are very pleased with the response we have had from both existing and new investors. Our most significant existing investors have come back in, which is a tremendous vote of confidence in our team and track record, and we have also attracted a number of major new backers. That was something we considered important to do in order to broaden out our investor base.”
SEP has completed the investment programme for the £110m SEP II fund, launched in 2001, which has been invested in 30 emerging and growing technology companies throughout the UK in the IT, healthcare and energy-related technology sectors.