Scottish Enterprise

Scottish Enterprise is Scotland’s national economic development agency, headquartered in Glasgow, that operates multiple co-investment funds to support indigenous life sciences, deep tech, and medical device startups. Through vehicles such as the Scottish Co-Investment Fund and the Scottish Venture Fund, the agency partners with private investors to match capital into high-growth Scottish companies, with biotech, medtech, and deep tech among its priority verticals. The mandate is explicitly economic: build durable companies that anchor jobs and IP in Scotland.

Scottish Enterprise participates across Pre-Seed, Seed, and Series A, contributing $250k to $1M per round on a matched basis alongside accredited private lead investors. Geographic eligibility is strict: companies must have meaningful Scottish operations or commit to establishing them. Capital is non-leading by design, so founders need to secure a private lead before the agency commits.

Founders should approach by first lining up a qualifying lead investor, then engaging Scottish Enterprise’s account managers to confirm fund eligibility. Expect process-driven diligence and reporting requirements typical of public co-investment vehicles. The agency also offers grants and innovation support that can stack with equity, so plan a holistic ask rather than a pure equity pitch.