Glasgow’s N4 Partners is preparing for the launch of a new investment fund for early-stage businesses following the appointment of Scottish banking veteran Gordon Merrylees.

The former head of entrepreneurship at Royal Bank of Scotland and its parent company NatWest, Mr Merrylees is well-known on the start-up scene. He stepped down last year after 36 years with the bank, where he created a UK network of 12 “entrepreneur accelerator” hubs that have supported more than 60,000 start-ups with £400 million of investment.

The appointment marks a reunion between Mr Merrylees and former Royal Bank executive Benny Higgins, who joined N4 as chairman in September 2021.

“I had the pleasure of working with Gordon for a number of years at RBS and his passion for supporting entrepreneurs and start-ups throughout the UK is unparalleled,” Mr Higgins said. “We’re delighted to welcome Gordon on board as we look to launch a venture fund exclusively targeting the UK start-up community.”

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N4 was set up in 2020 by four former employees of Clyde Blowers Capital. It manages funds on behalf of institutional investors from Europe and the US, with a focus on the industrial, healthcare, technology, defence and energy sectors.

Commenting on his appointment, Mr Merrylees said he was “thrilled” to be joining the team at N4.

“Throughout my career I’ve always been incredibly passionate about supporting the growth of talented entrepreneurs and start-up businesses across the UK,” he said.

“From establishing a leading start-up and scale-up accelerator programme at RBS, to my current role with Know-it as chief commercial officer, playing my part to ensure the innovative credit management software firm fulfils its potential as one of the UK’s most innovative fintech start-ups, I have now experienced first-hand the level of support required for start-ups and entrepreneurs to be successful and achieve their growth ambitions.”