The Scottish Investment Bank (SIB) — Scottish Enterprise’s (www.scottish-enterprise.com) investment arm — had a record year in 2017/18, supporting over 640 companies (500 through its Financial Readiness Service and 147 through its investment activities), investing £43.5 million and attracting over £206 million of external investment.

Through its main equity funds, SIB invested £30.7 million, which helped companies to unlock £166 million of private-sector investment — reflecting the growing strength of investment opportunities in Scotland and the positive impact of larger deals attracting institutional investment.

The Renewable Energy Investment Fund (REIF) invested £10.2 million, securing £34.5 million in external investment, and SIB invested £2.6 million in externally managed funds, which leveraged £5.5 million of private-sector investment.

In addition, over 35 international venture capitalists and corporate investors backed SIB investee companies, helping to secure more than £105 million of investment from outside Scotland.

SIB has also helped companies to identify and secure an appropriate funding package from a range of sources; it has developed a range of events, digital content and promotional material to reach a broader cohort of companies.

Investee companies also supported over 3,400 full-time jobs in Scotland, with SIB’s portfolio of achieving a combined annual turnover exceeding £400 million, £275 million of which was generated from international sales.

Kerry Sharp, SIB director, said: “The 2017/18 Annual Review demonstrates the continued important role of SIB in Scotland’s early-stage risk-capital market, helping more companies than ever before to secure growth funding.

“Increasing the availability of — and access to — national and international investment capital continues to be a strong feature of our efforts, having invested in over 140 companies, as does delivering a range of support and guidance to over 500 companies through our Financial Readiness Service.”