UK Future Technologies Fund backs SEP IV to support high technology businesses
11 December 2011
The UK Future Technologies Fund (UK FTF) has committed to SEP
IV, the latest fund managed by Scottish Equity Partners LLP
(SEP), continuing the support of the European Investment Fund
which is also an investor in SEP’s previous funds.
This puts SEP IV in a strong position to continue its investment
strategy of financing high-growth, high-tech businesses.
SEP’s investment strategy is a perfect fit with UK FTF’s
stage and sector target as it specifically targets later stage
(growing) UK companies that are developing technology and
products in information technology, energy and healthcare.
SEP’s deep experience in these sectors over the past 20 years
makes it well placed to start investing directly into around 20
portfolio companies in the coming months, with a view to
investing between £5-20 million in each company.
SEP IV is UK FTF’s fifth investment from its £200 million
fund, bringing total commitments so far to around £65m. UK FTF’s
investment period for commitments to new funds runs until
About UK FTF
UK Future Technologies Fund, managed by EIF, is one of two
funds of funds which together make up the UK Innovation
Investment Fund (UKIIF).
Backed by a £100 million investment from the UK Government,
UK FTF doubled its investment capacity to £200 million with
resources committed from the European Investment Fund. The fund
invests with venture capital managers targeting a range of
technologies in fields such as life sciences, digital
technology, and advanced manufacturing.
About the European Investment Fund
EIF's central mission is to support Europe's small and
medium-sized businesses (SMEs) by helping them to access
finance. EIF designs and develops venture capital and
guarantees instruments which specifically target this market
segment. In this role, EIF fosters EU objectives in support of
innovation, research and development, entrepreneurship, growth,
The EIF total net commitments to private equity
funds amounted to over EUR 5.4bn at end 2010. With investments
in over 300 funds, the EIF is a leading player in European
venture due to the scale and the scope of its investments,
especially in high-tech and early-stage segments. The EIF
commitment in guarantees totalled over EUR 14.7bn in close to
160 operations at end 2010, positioning it as a major European
SME guarantees actor and a leading micro-finance guarantor.