/Investor DB

Scottish Co-Investment Fund

Government fund

AScottish Enterpriseco-investment fund

Glasgow · Seed–Growth · 19 people tracked

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Investment thesis

Scottish Enterprise is Scotland's national economic development agency focused on transforming the Scottish economy by helping businesses innovate, grow and become internationally competitive. It provides business development advice, innovation and R&D funding support, export and international market assistance, and entrepreneurial and scale-up support for spinouts, start-ups and scaling companies seeking external investment. It targets opportunities in low carbon energy, health and wellbeing, technology and data, and high-value manufacturing. Funding is conditional on recipients adopting Fair Work First practices and committing to credible net zero plans by 2045, reflecting the agency's emphasis on sustainable, climate-resilient, and fair economic growth across Scotland.

Source: firm website, verified Nov 1, 2026.

Stage
Seed–Growth
Check
$135K – $2.7M
HQ
Glasgow, GB
Leads rounds
Follows
Instruments
Equity · Grants

Team · 19 people

from the firm's website & curated
Simon Peet· Managing Directorin
Adrian Gillespie· Chief Executivein

Chief Executive of Scottish Enterprise since September 2021, he previously was the University of Strathclyde's first Chief Commercial Officer and spent 16 years at Scottish Enterprise in senior leadership roles across digital technologies, deep tech and energy.

Cameron Murray

A senior investment executive and board trustee with over 30 years in the investment industry managing large property portfolios for pension and insurance clients, he is a chartered surveyor (MRICS) and holds an Investment Management Certificate from the CFA UK.

Gill McNeill· Chief People Officer of People, Digital and Communicationsin

Leads the People, Digital and Communications function. Previously Head of People Services at Virgin Money, with prior senior HR roles at BAE Systems, Leidos and Lloyds Banking Group.

Graham Soutar

A chartered accountant with advisory, investment and operating experience in the UK and Asia, he was a Deloitte corporate finance partner in Hong Kong and a senior partner at Asian private equity firms. He chairs the Scottish Enterprise Board Audit & Risk Committee.

Greig Rooney

With over 20 years in executive leadership across publicly listed organisations in life sciences, advanced manufacturing and food, he was Managing Director at Valneva Scotland and is now Managing Director for HealthTech and Pharmaceuticals at CPI.

Jacqui Gale

A strategic business leader with over 40 years' experience across consumer, luxury, healthcare and tech-enabled sectors, she is a former CEO of brands including Crabtree & Evelyn and now a chair and non-executive director supporting digital health and cancer care organisations.

Jane Martin· Managing Director of Innovation and Investment

Leads Scottish Enterprise's innovation and investment work, sponsoring the Scaling Innovation mission focused on life sciences, industrial biotech, space, fintech, quantum, photonics and semiconductors. On the Executive Leadership Team since 2015.

Jim McDonald· Chair

Professor Sir Jim McDonald GBE was appointed Chair of Scottish Enterprise on 1 January 2025. A three-time University of Strathclyde graduate in electrical engineering, he was its Principal and Vice-Chancellor and served as President of the Royal Academy of Engineering from 2019 to 2024.

Kerry Sharp· Chief Finance & Investment Officer

Scottish Enterprise's first Chief Finance & Investment Officer, overseeing financial governance and investment attraction. A qualified accountant and chartered banker who previously worked in venture capital and corporate banking, and has served on advisory boards including the London Co-investment Fund and Fintech Scotland.

Luke Logan

An independent adviser and board member with over 30 years' experience across aerospace, defence, power and industrial sectors, having held leadership roles at Rolls-Royce, BAE Systems and Weir Group, he supports growth in technology-led businesses.

Raymond O'Hare

A former Director of Microsoft and Chair of the Institute of Directors in Scotland, he has held executive roles across the technology industry and various chair and non-executive positions supporting high-growth businesses.

Reuben Aitken· Managing Director, Energy Transition and International Operationsin

Joined Scottish Enterprise's Executive Leadership Team in 2022 to lead its international agenda and energy transition mission, heading Scottish Development International. A former diplomat and energy regulator who has worked on economic, energy and infrastructure policy.

Rhona Allison· Managing Director of Productivity and Business Growth

Leads Scottish Enterprise's support services for growth companies and sponsors the mission to drive capital investment. Has a life sciences background and previously set Scottish Enterprise's Life Science strategy.

Stephen McArthur

Principal and Vice-Chancellor at the University of Strathclyde and an expert in artificial intelligence and intelligent systems for energy applications, he specialises in low-carbon energy technologies and has led industrial innovation centres.

Stuart Patrick

A chartered accountant and leading figure in Glasgow business for over three decades, he has been Chief Executive of the Glasgow Chamber of Commerce since 2009 and specialises in urban economic development and city leadership. Appointed CBE in 2019.

Fernando Fraga· Chief People Officer: People, Digital & Communicationsin

Founder of FX2 Group, which grew out of his personal investment practice into a family office backing founders and established businesses.

Imogen Pohl· Chief Finance & Investment Officerin
Mia Smith· Chief Executive Officerin

Frequently asked questions

What stage does Scottish Co-Investment Fund invest at?
Scottish Co-Investment Fund invests at the Seed, Series A, Series B, Growth stages.
What is Scottish Co-Investment Fund's typical check size?
Scottish Co-Investment Fund typically writes checks of $135K – $2.7M.
What sectors does Scottish Co-Investment Fund focus on?
Scottish Co-Investment Fund focuses on Advanced Manufacturing, Cleantech, Climate Tech, Data & Infrastructure, Energy, Healthtech, Sector Agnostic, Wellness & Fitness.
Where is Scottish Co-Investment Fund located?
Scottish Co-Investment Fund is headquartered in Glasgow, GB.
Does Scottish Co-Investment Fund lead rounds?
Scottish Co-Investment Fund typically participates in rounds rather than leading them.

Media · Podcasts & interviews

from their channel

CAN DO Offshore Wind Innovation Feasibility Challenge | Webinar 1 | Scottish Enterprise

Scottish Enterprise

CAN DO Offshore Wind Innovation Feasibility Challenge | Webinar 5 | Scottish Enterprise

Scottish Enterprise

CAN DO Offshore Wind Innovation Feasibility Challenge | Webinar 3 | Scottish Enterprise

Scottish Enterprise

CAN DO Offshore Wind Innovation Feasibility Challenge | Webinar 2 | Scottish Enterprise

Scottish Enterprise

CAN DO Offshore Wind Innovation Feasibility Challenge | Webinar 4 | Scottish Enterprise

Scottish Enterprise

Images

Scottish Co-Investment Fund photo

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