Scottish technology investment firm reaches £121m portfolio valuation
A Scottish investment firm’s portfolio has reached a total valuation of £121 million off the back of its latest investment rounds.
St Andrews-based Eos Advisory, which backs science, engineering and technology innovation, saw its first two exit events in 2021, alongside a successful raise of its EIS innovation fund.
In January last year the syndicate announced that it had led a £1.24m investment into RAB-Microfluidics, an Aberdeen-headquartered R&D company developing cutting-edge microfluidic technology to diagnose engine and turbine wear in real time.
The following month, Eos secured its first strategic investment partnership with US-based Kineticos Life Sciences, to co-invest in early stage Scottish companies. The venture partnership aims to invest over £10m over the next five years in oncology-focused life sciences ventures.
In June, sustainable food protein scale-up Enough, a University of Strathclyde spin-out, secured a $43m (£31.8m) series B round, one of the largest investment rounds into a Scottish technology company to date.
And in July, genetic sequencing specialist Wobble Genomics, a spin-out from the University of Edinburgh’s Roslin Institute and founded by chief executive Richard Kuo, secured a £2.15m round led by Eos.
Andrew McNeill, managing partner, Eos Advisory, said: “Over the past 12 months, Eos Advisory has seen significant growth both in our portfolio and in our core business.
“We already had a strong track record for due diligence and supporting our portfolio, but we have found that better communicating our focus and process as impact investors has really widened our network of investors and our opportunities.
“Our modus operandi is to continue supporting our companies post-investment, and helping them to grow. On the investor side, we have expanded the investor base outside Scotland, especially across the UK and North America. 2022 is going to be another exciting year and we have a number of milestone announcements in the pipeline.”
The past year has also been focused on building the Eos team including the appointment of Chris Brinsmead, a former senior AstraZeneca executive and former adviser to the UK Government on life sciences, to the firm’s board and Callum Keddie, who previously led a London-based venture capital impact fund, joining Eos as an investment executive.
The firm now has three investment pillars in place: the Eos Syndicate, Eos Innovation Fund, and Eos Venture Partnerships. This is part of a wider strategy to support the funding of Scottish innovation beyond the seed stage.
Mark Beaumont, partner, Eos Advisory, said: “The Eos Syndicate continues to be a collective of very active investors in innovation that has a positive impact in the world, emanating mainly from Scottish universities, and the addition of our EIS Innovation Fund in 2021 has allowed a new way for us to support these businesses.
“In 2022, we aim to continue this growth pattern with a second raise of our EIS Innovation Fund.”
The firm invests in four key impact areas: disease diagnosis, prevention and treatment; energy security, climate change and pollution; food and water security, and; sustainability of industrial processes and infrastructure.
Why innovation and marketing are the perfect partners to make changes that matter￼
With the rapid evolution of traditional marketing and the appearance of digital marketing, technology and innovation has become part of any marketer’s life without the need of working for a…
Transitioning to a four-day week – CEO’s vow to strike a healthier balance in the workplace
I came to Scotland nearly 20 years ago from Ireland, with no contacts but a lot of determination. While Ireland will always be my home, Scotland has given me amazing…
Women Lead: The female-led company championing intuitive working
Over the last two years, the pandemic forced a shift to more remote and flexible working practices. Whilst we might be seeing a “return to normal”, some companies are choosing…
Women Lead: My passion for young people to consider a career in digital
Twenty years ago, I stumbled across my career in digital marketing almost by accident. It was during my honours degree in marketing at Glasgow Caledonian University. I was on work…
Women Lead: Inclusive Silicon Valley cohort gives hope to entrepreneurs from diverse backgrounds
Things are happening on the Scottish tech scene. Big and small initiatives are creating a fantastic ripple effect on the sector, bottom up and top down, thanks to the recommendations…
Women Lead: The story of an entrepreneurial scientist
I first arrived in Scotland over 20 years ago. I had £75 in my wallet and a scholarship offer to do a PhD at the University of Edinburgh. Sometimes I…
Please mind the gap… or healthcare may fall
Imagine sharing a lengthy train journey with others. From beginning to end, imagine how often you might hear ‘mind the gap’ messages about embarking and disembarking safely. Picture how navigating…
Women Lead: My journey from Dragons’ Den to Silicon Valley
Following her appearance on Dragons’ Den, Sheila Hogan, serial entrepreneur, founder and chief executive of digital legacy vault, Biscuit Tin, shares her experience of her time in the Den and…