A GLASGOW-BASED investment firm has reached a key milestone by completing its biggest investment year yet.

Some £10.5 million was invested across nine businesses in Kelvin Capital’s portfolio, which covers sectors like internet and app technology, biotech, life sciences, electronic manufacturing and medical technologies, in 2018. 

The company has now entered its 10th year having secured £30.2m – made up from its syndicate members’ money, plus co-investment from others – for its portfolio.

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.”

Angus Hay, also a 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.”

The investment group, which was started by McNicol, now has over 200 UK-wide members and is seeing its portfolio grow.

Its 2018 follow-on investments included DNA manipulation firm Biotangents, innovative healthcare solutions company Clear Surgical and marine renewable energy business QED Naval.

Its new investment was in Novosound, which developed and patented a ground-breaking technique to mass-manufacture printable ultrasound sensors.