Private business angel investment network Linc Scotland is set to play a key role as plans to strengthen the Scottish Investment Bank (Sib) are progressed.
Finance Secretary John Swinney said the Sib would work with the organisation, which celebrates its 20th anniversary, and other stakeholders as it looks to grow its influence.
He said: “We wish to strengthen the role of the Scottish Investment Bank to offer additional support by exploring new and innovative capital resources in Scotland, the UK and across Europe.
“In taking this work forward, we will work with all our stakeholders, including Linc Scotland, to ensure that Scotland continues to be one of the best places to invest in innovative early stage technology-based high-growth businesses.”
Linc Scotland will mark its milestone with a dinner in Edinburgh tonight which will be attended by two key figures from the US Angel Capital Association’s policy and research arm, the Angel Resource Institute, chairman Michael Cain and Professor Rob Wiltbank.
Linc Scotland chief executive David Grahame said the group, which completed deals worth £35m in 2012, was looking forward to supporting the next generation of entrepreneurs.
“We are fortunate that unlike many countries that may have just one or two key pieces of the angel investment jigsaw, we have all three in Scotland tax incentives from the UK Government, access to co-investment through Scottish Enterprise’s Scottish Investment Bank (Sib) and channels to get the money out there through our angel groups.
“The partnership with Sib has been a huge success story with the co-investment fund enabling us to lever more private sector investment than anticipated.”
The Linc comments came as business advisers BDO said its corporate finance team in Scotland continued to see growing transaction volumes in the latest quarter.
Corporate finance director Craig Martin said: “We have seen a significant upturn in activity since the middle of the year.”