GLASGOW-BASED investment syndicate Kelvin Capital has seen a 19 per cent increase in its total investments in 2019 compared to 2018 levels.

The record figure saw £12.5 million being invested, up from £10.5m in 2018, with new syndicate members joining from Europe and the Far East.

In the last quarter of 2019 alone, £2.75m was invested in Scottish-based businesses including £1m into hydrogen technology company Logan Energy. In the first quarter of 2020, £3.3m of new investment has already been committed to portfolio companies.

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Other significant investments made throughout 2019 include Biotangents, ProFactor Pharma, Novosound and Sofant Technology.

The Kelvin Capital portfolio, which has increased significantly in valuation since the end of 2018 due to many maturing investments, 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.

The investment group, managed by industry experts John McNicol and Angus Hay, now has almost 250 members, up 20% since 2018.

John McNicol, director and founder of Kelvin Capital, said: “A key part of our success is not just investing money but bringing in highly experienced industry specialists from our membership and vast network, who work with the portfolio companies to support and drive their growth ambitions. This brings even greater value to the businesses.”