Scottish Equity Partners (SEP) has announced the close of its new £260 million fund, SEP V, for investing in high growth tech companies in the UK and Ireland as well as around the continent.
SEP V will invest up to £20 million in growth-stage companies with “world class potential”. Some of SEP’s previous investments include Skyscanner, Babbel, and Clavis Insight with its portfolio having aggregate revenues of more than £1 billion.
The VC firm has offices in London, Glasgow, and Edinburgh.
About 90% of investors in the new fund have participated in SEP funds before. The team of investors is split at around 40% UK investors and 60% from Europe and the US.
“This is another great milestone for us and reflects extremely well on the calibre of our team,” commented SEP managing partner Calum Paterson. “The new fund gives us a very strong platform to continue to invest in companies with world class potential and we thank all of our investors for their support.”