Scottish Equity Partners co-founder and managing partner for 25 years hands over reins

Calum Paterson, who has been SEP’s managing partner since co-founding the Glasgow-based firm in 2000, takes on the role of chairman and senior partner.

The planned leadership transition sees Angus Conroy and Keith Davidson appointed as joint managing partners.

Under Paterson’s tenure, the firm has raised seven funds and managed investments in more than 160 businesses. He has successfully led SEP’s strategic transition from an initial focus on venture capital to become a top UK and European growth investor in enterprise software and technology companies.

Paterson, a former chair of the British Private Equity & Venture Capital Association (BVCA), said: “Angus and Keith have played key roles in our investment team and will do a great job together as managing partners, with the strong support of our broader partner group and excellent team.”

Meanwhile, Fraser McLatchie, who is also a long serving and senior member of the SEP team, has been appointed chief operating officer. In addition, Tim Ankers, currently a director in the investment team, is being promoted to partner.

Paterson added: “Fraser’s appointment as COO strengthens our operational capabilities, and we also congratulate Tim on his well-deserved promotion to partner. This is natural evolution for the firm. We are all looking forward to the next chapter in SEP’s journey.”

The changes are said to reflect the firm’s commitment to “continued excellence as a partner of choice for ambitious software and technology companies in the UK and Europe”. Operating from offices in Glasgow and London, SEP manages funds backed by institutional investors and provides significant added value as well as capital to the companies it invests in.