Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Investing for impact – St Andrews firm Eos wants to make ‘positive’ difference

Eos managing partner Andrew McNeill.
Eos managing partner Andrew McNeill.

A Fife firm wants to help tackle major issues, such as cancer treatment and climate change, through making investments in high-impact companies.

St Andrews-based Eos Advisory is a “seed stage investor” that helps start-up firms in science, engineering and technology get off the ground.

It offers financial backing while its team of partners – which includes cyclist Mark Beaumont – offer their expertise in a range of areas.

It was founded by Kevin Grainger seven years ago and has invested more than £25 million into 14 businesses.

Eos ‘impact investors’

Managing partner Andrew McNeill described the investment house as “impact investors” who look to back businesses aiming to tackle major issues.

He also outlined plans to focus on oncology and diversify the Eos Advisory portfolio into climate change businesses.

Investment firm Eos Advisory’s partners in St Andrews.

The Fife-based organisation has grown with the creation of Eos Innovation Fund and Eos Venture Partnerships.

The latter was set up to capitalise on worldwide interest in investing in high-impact companies.

“A lot of people are interested in science and innovation in Scotland,” Mr McNeill added.

“There’s a real culture of innovation and it’s been under represented by investors to date.

“Investors from around the world want to invest in Scottish businesses in deals lead by Eos.

“They bring back that depth of pocket to support companies over a longer period.

“If you are investing in a seed stage company and going after a global market, chances are you’re going to need quite a bit of money.”

Earlier this year, Mr Grainger outlined plans to spend over £10 million over the next five years.

He wants to focus on oncology-focused life sciences ventures founded in Scotland.

Last year, the firm also led a £1.7m investment into cancer treatment company Cumulus Oncology

Last year Eos led £1.7m investment into cancer treatment company Cumulus Oncology.

Covid had a positive impact for Eos

The pandemic has had a “really positive” impact on the business, Mr McNeill said.

He said it had highlighted the important role science can play in people’s everyday lives.

Mr McNeill said: “In a way that they never had been before, people are aware of the impact of science on their lives.

Mr McNeill revealed plans to scale-up Eos before the end of 2022.

“That has driven a lot of interest in the science and innovation around us.”

Eos Advisory plans to grow its own team in the next 12 months as it continues its goal of investing in high-impact firms.

‘We help however we can’

One firm that has benefited from the firm’s support is Enough Foods.

Mr McNeill added: “We invested in them in day one and they developed their process and showed they could do it.

“They raised several millions of pounds and they scaled that up.

“They’ve just done a €53m debt and equity from a Dutch bank and signed a partnership with Unilever.

“That exemplifies what we do – we get in at day one and help however we can.”

Already a subscriber? Sign in

[[title]]

[[text]]