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LINC Scotland members increase investment in early stage companies

LINC Scotland members invested GBP13.76m into Scottish early-stage companies in 2012 – a 13 per cent increase in investment on the previous year.

Figures published by LINC Scotland, the national association for business angels in Scotland, show that the amount invested in new companies increased by 54 per cent last year, its members and other private investors completed 82 investments (up five per cent), and helped 59 companies (also up five per cent).  Of these over a third were new to the portfolio, up from less than a quarter in 2011.
Although the total value of investment raised was down 10 per cent on the previous year (GBP31.21m compared to GBP34.74m), the 2011 figure included two untypical venture capital deals. Of the total raised in 2012, GBP22.76m was from private investment (down 14 per cent on the previous year), with GBP8.45m coming from the public sector (up one per cent from GBP8.35m).
The life sciences and enabling technologies sectors benefited most in 2012, with both receiving 39 per cent of the total funds invested during the course of the year.
David Grahame, chief executive of LINC Scotland, says: “It is extremely encouraging to see an increase in the amount of investment by LINC Scotland members, compared to the previous year, and once again an increase in the number of new companies receiving investment.
“The 2011 figures were slightly distorted due to two larger deals involving formal venture capital, so taking this into account the latest figures are quite remarkable.
“There are a number of good projects coming forward with people prepared to back them and although we would like to see other funders playing their part, these figures show that investors are taking a positive long-term view.
“In the current economic climate it can be difficult to attract traditional funding, but business angels are continuing to provide vital support to early-stage companies.”

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