UK venture capital firm SEP has reported a sharp upturn in investment activity this year and strong operating performance across its portfolio of 40 high growth companies.
SEP, one of the largest venture capital groups in Europe, confirmed that investment is scheduled to total GBP60m in the current year to 31 December.
Companies added to the portfolio include l digital solutions provider Tryzens, email marketing company Pure360, and social analytics company SocialBro. SEP expects to complete another significant e-commerce investment within the next few weeks.
Aggregate revenues for the portfolio have grown 22 per cent in 2013 to almost GBP700m, while employment across the SEP companies has increased by 12 per cent to more than 4,200.
Approximately 90 per cent of the SEP portfolio is UK based, with one third headquartered in Scotland, including Skyscanner, the world’s fastest growing travel search company. SEP remains the largest shareholder in Skyscanner, following the recent USD800m secondary deal with US venture firm Sequoia Capital.
Other strong performers across the SEP portfolio included energy services company Anesco, which topped the 2013 Fast Track 100 covering the UK’s fastest growing private companies. London based fashion retailer, matchesfashion.com, has also grown strongly, increasing employment numbers to more than 350 staff, attracting 2.5 million visits to its website every month and shipping to 195 countries throughout the world.
SEP’s managing partner Calum Paterson says: “As long term investors, what really matters to us is how our companies do across their entire journey, but many of them have done particularly well in the last 12 months. The employment and revenue numbers demonstrate that for the right companies, venture capital can and does have a very substantial impact.”
SEP has expanded its own team during the year, hiring Andrew Carnwath from F&C and Paul Neeson from Caird Capital. Further recruitment is planned in 2014 for the firm’s London and Glasgow offices.
Ian Marchant, former chief executive of SSE plc, senior non-executive director of the Wood Group, and president of the Energy Institute will join SEP’s investment advisory board in January.
