In an interview with The Herald, the UK angel investment firm announced a new funding team which aims to bolster Scottish tech companies.
Raising Partners co-founder Helena Di Biase announced the Glasgow-based VC fund for up-and-coming Scottish firms, aiming to address and mitigate current fundraising barriers.
Specifically, the fund was created in an effort to address the lack of seed and pre-seed capital founders in Scotland need, something Di Biase classifies as “crucial.”
The team is raising £15 million for an inaugural venture capital fund, with an aim of making 24 investments into pre-seed and seed stage start-ups at £300,000 each.
According to Di Baise, at least 75% of the investments will be inc Scotland-based companies.
Di Biase told the Herald in her interview announcement that Scottish companies only received seven per cent of 2022 equity investments made in the UK.
The fund therefore aims to boost the Scottish economy and start-up landscape, and hopes to continually bolster companies throughout their progression – nearly half of the funding is being held for follow-up investments to ensure continued growth.
New technologies will be the main focal point of the investments, especially those set to garner the greatest societal impact in sustainability, healthcare, and socioeconomic mobility.
Di Biase told The Herald: “There is a huge opportunity to invest in some of the world’s most cutting-edge businesses here in Scotland, particularly those in climate tech, health tech and sustainability and we’re excited to be able to go some way in addressing the funding imbalance that exists across the UK.”
Further, to address inherent barriers in applying for funding, the team is removing the necessity of a ‘warm introduction’ for applicants.
Besides providing investment themselves, Raising Partners, which has an Edinburgh based-syndicate, was founded to provide advice and guidance through the difficult funding ecosystem.