The Glasgow-based organisation secured £10.5 million for nine of its portfolio businesses in 2018, consisting of one new and eight follow-on investments.
This marks a record year for the investor and boosts the overall total of funding secured for its portfolio to almost £30.2m since the group’s formation in 2009.
The figure represents contributions from its syndicate members, which have risen to more than 200 across the UK, combined with co-investment from other groups.
Kelvin Capital said it supports “disruptive technologies with global ambitions”, with portfolio companies in sectors such as internet and app technology, biotech, life sciences, electronic manufacturing and medical technologies.
This includes Glasgow biotech Scot Bio, which in November completed an oversubscribed £2m funding round with Kelvin Capital as lead investor.
The past year also saw fellow Glasgow portfolio business Jon Fleming Group, a specialist care service, secure its first acquisition. The group announced the deal with North East Community Care Aberdeen last March and has since seen revenues rise by 50 per cent.
John McNicol, director of Kelvin Capital, said: “2018 was a particularly strong investment year which saw the Kelvin Capital syndicate invest at record levels.
“For any new investment, we are looking to support companies with international growth potential which are already revenue generating, or have commercial traction and are close to being revenue generating.”
Director Angus Hay added: “Since 2009 we have invested into 23 portfolio companies but 2018 has been the most active since we began.
“The fact that we have made eight follow-on investments, with other investment groups, is extremely exciting as these businesses have demonstrated strong potential to the investor community and reflects the maturing of the earlier investments in the Kelvin portfolio which are now close to market.”