Glasgow based investment syndicate Kelvin Capital has moved into its tenth year of business by completing its biggest investment year yet.
A total of £10.5 million was invested across nine businesses in its portfolio in 2018, made up by eight follow on investments and one new investment.
The Kelvin Capital portfolio covers sectors including internet and app technology, biotech, life sciences and electronic manufacturing and medical technologies and continues to support disruptive technologies with global ambitions.
Since its formation in 2009, Kelvin Capital has secured almost £30.2m in investment for its portfolio companies, made up from its syndicate members’ money, plus co-investment from others. The investment group, which was started by John McNicol, now has over 200 UK wide members and the portfolio is maturing and growing from strength to strength. Last year, portfolio business, Jon Fleming Group, a specialist care service based in Glasgow, secured its first acquisition of NECC Aberdeen which has since seen revenues rise by 50%.
John McNicol, Director of Kelvin Capital, said: “2018 was a particularly strong investment year which saw the Kelvin Capital syndicate invest at record levels. The reputation of Kelvin Capital is also reaching across the whole of the UK, and overseas, with ambitious companies now approaching us seeking our investment and expertise. For any new investment, we are looking to support companies with international growth potential which are already revenue generating, or have commercial traction and are close to being revenue generating.”
Scot Bio, another portfolio company, completed an oversubscribed £2m funding round in November 2018 with Kelvin Capital as lead investor. The company has recently announced the appointment of David Dobbins and Martyn Mulcahy, former senior executives from Robert Wiseman Dairies plc, to its board. Both are members of the Kelvin Capital syndicate.
Angus Hay, Director of Kelvin Capital, added: “In the last three years, Kelvin Capital has raised its investment profile throughout the UK enabling companies to benefit from the wide sector experience amongst our membership. Since 2009 we have invested into 23 portfolio companies but 2018 has been the most active since we began.
“The fact that we have made eight follow on investments, with other investment groups, is extremely exciting as these businesses have demonstrated strong potential to the investor community and reflects the maturing of the earlier investments in the Kelvin portfolio which are now close to market.”