Scotland sees strongest year for venture capital deals since 2013

The number of Scottish venture capital deals agreed last year reached its highest level since 2013, according to a report out today.
The largest VC deal was for Edinburgh tech firm Purelifi, which raised 13.6m. Picture: ContributedThe largest VC deal was for Edinburgh tech firm Purelifi, which raised 13.6m. Picture: Contributed
The largest VC deal was for Edinburgh tech firm Purelifi, which raised 13.6m. Picture: Contributed

Scottish companies raised £60.9 million of venture capital in 2019, from 28 deals – an increase from the £58.4m raised in 2018 from 25 deals, research by Refinitiv shows.

The largest deal was for Edinburgh tech firm Purelifi, which raised £13.6m, followed by Current Health and Intelligent Growth Solutions, raising £8.9m and £5m respectively.

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The most active investors in Scotland were Scottish Enterprise Glasgow, which invested £18.6m in 15 deals. Par Equity followed up in second with seven deals, investing £4.8m, and Archangel Investors invested £2.2m in four deals.

Alan Whyte, Scotland country manager at Refinitiv, said: “It’s great to see that Scottish entrepreneurialism is booming with year-on-year increases for deal numbers and volumes. VC firms are preferring to spread their investments across a wider number of businesses.”