ECONOMIC development agency Scottish Enterprise has hailed record returns with equity and debt investments exceeding £50 million during the last financial year.
It said seven trade exits contributed to income totalling £56m in 2020/21, along with a partial realisation of its shares in telecoms equipment company Calnex Solutions following its IPO in October 2020.
The value of the agency’s investment portfolio increased from £309m the year before to £423m during the last year, which it said “reflected the contribution its investee companies can make to post-pandemic economic recovery”.
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The portfolio comprises over 340 companies in several sectors across Scotland, including Dundee-headquartered e-commerce company Snappy Shopper, Edinburgh-based agritech business Intelligent Growth Solutions, and Stonehaven-located electric vehicle charging system developer Trojan Energy.
Kerry Sharp, director of growth investments at Scottish Enterprise, said last year was its "strongest year on record in terms of income generated”.
She said this demonstrated “the significant financial returns that can result from adopting a patient approach to investing risk capital in innovative, early-stage, high-growth companies in Scotland”.
Ms Sharp said: “These companies continue to make a positive contribution to Scotland’s economy, with returns being recycled into new projects that will support further economic growth.”
Scottish Enterprise said it last year invested £78m into 177 companies, which leveraged around £122m of private sector investment.
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