Scottish Equity Partners (SEP) has announced the launch of a £260m fund to invest in high-growth tech companies in the UK operating in the e-commerce, SaaS, healthcare and energy sectors.
The fund, called SEP V, will primarily focus on technology firms based in the UK and Ireland but is expected to invest across Europe.
SEP V, which drew support from investors in the UK, Europe and the United States, will invest up to £20m per tech company.
Speaking about the launch, SEP managing partner, Calum Paterson, said: “This is another great milestone for us and reflects extremely well on the calibre of our team. The new fund gives us a very strong platform to continue to invest in companies with world class potential and we thank all of our investors for their support.”
SEP, which led Skyscanner’s £2.5m Series A in November 2007, has more than £1bn in funds under management.
The fund has also invested in high-end fashion firm Matchesfashion and Manchester-based car finance specialist Zuto.
Outside of the UK, SEP has supported online eyewear company Mr Spex and language learning firm Babbel, which are both based in Berlin. It has also invested in Dublin-based e-commerce analytics company Clavis Insight.