SPECIALIST oil and gas investor Energy Ventures said yesterday that companies in its portfolio had increased turnover by an average of 50% this year.
The company added that it had successfully raised a £223million energy fund this year, which has already supported two companies and will be used for further investments before the end of the year.
Partner Greg Herrera said: “The North Sea oil and gas industry has been buoyant during 2011 and this has stimulated the growth and development of a number of our portfolio companies.”
Energy Ventures has invested in 18 firms including Read Well Services, Red Spider Technologies and Sigma Offshore.
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