Former Amazon UK chief McBride to join SEP board

The appointment of McBride as a "venture partner" will be seen as something of a coup for Glasgow-based SEP, which has backed a string of technology businesses including chip developer Wolfson Microelectronics and bluetooth specialist CSR. Last month, it was revealed that the firm had made a multi-million-pound return on a "landmark" $1 billion (630 million) deal for the European venture capital market.

BioVex, in which SEP was the sole UK investor, was sold to US-based Amgen for $425 million, with an additional $575m in "milestone payments" due subject to trial results and regulatory approvals. The deal is likely to rank as one of the world's largest ever exits for a venture-backed biotechnology company.

Glasgow-based McBride, who is due to join SEP at the start of April, recently stepped down from Amazon after five years as head ofthe internet giant's largest business outside the US.

Prior to Amazon UK, he was chief executive of T-Mobile and has also held a number of other senior positions in blue-chip technology companies including Dell and IBM.

SEP's managing partner, Calum Paterson, said: "We are delighted that Brian McBride is joining us.As well as providing capital, we always look to make a positive contribution to the companies we invest in and to add as much value as we can.

"Brian will be a great source of advice to the entrepreneurs we back and we look forward to welcoming him on board."

McBride said: "SEP is unquestionably one of Europe's premier venture firms. I have been impressed by their track record but also by their culture and approach. I am looking forward to working with them."

Firms within the venture capital group's current portfolio include wireless communications outfit PicoChip, energy technology specialist ARKeX, semiconductor company Elonics, oil technology business Deep Casing Tools and Skyscanner, the Edinburgh-based flight search engine.

In addition to its Glasgow base, SEP has an office in London.