Scottish Enterprise, Scotland’s national economic development agency, has revealed its net assets from this year rose by £18.7 million, from £496.8m to £515.5m.

The agency said that it met all of its performance targets for 2024/25, with three areas exceeding its target range, during the first full year of its missions-based approach.

It’s strategy focused on three core growth areas of accelerating the energy transition, boosting capital investment, and scaling innovation.

Scottish Enterprise reported that it raised £442 million in business innovation investment, and £1.16bn in business capital expenditure – the second highest on record, in the financial year ending 31 March 2025.

The agency leveraged £367m in growth funding, the report said, with Scottish Enterprise claiming that Scottish businesses have reached their highest-ever level of planned international sales, reaching £2.46bn.

However, the report found that despite the growth in net assets, the value of equity investments and loans to companies actually fell by £22.6m, from £493.8m to £471.2m.

In the financial year, £43m was invested in 100 early stage companies, with £11m of external investment. 299 companies were helped to raise funding, which then went on to raise £132m.

46 spin out projects were also supported in the year, with the HighGrowth SpinOut Programme resulting in three new companies being created.

The report did note the difficult economic environment Scottish Enterprise was operating in, with a “number of large projects” the agency supported being delayed.

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“This year we have achieved another impactful set of results, driven by our sharpened focus around three core missions – Accelerating the Energy Transition, Boosting Capital Investment, and Scaling Innovation,” Scottish Enterprise chief executive Adrian Gillespie said.

“The fact that we have achieved this historic exporting high, despite challenging global economic conditions throughout the financial year, really highlights the ambition of Scotland’s business base, and the determination of our organisation to transform Scotland’s economy.

“Our track record shows we’ve consistently delivered for Scotland. Over the last five years we’ve supported the creation and safeguarding of around 90,000 jobs – leading to an estimated £1bn in income tax contributions – as well as generating more than £530m of our own income. Our visit to Piramal today provides a fantastic opportunity to highlight the business ambition that exists in Scotland, and the types of companies turning this into impactful international growth for the Scottish economy.”

Deputy First Minister Kate Forbes said: “Supporting our businesses to thrive is not only vital to growing the economy, but to creating jobs and putting more money in people’s pockets.

“I congratulate Scottish Enterprise on these impressive results, particularly the record figure for forecast export sales, which demonstrates international demand for Scottish goods, products and services. We will continue to support Scottish businesses to grow internationally, despite ongoing uncertainties in global trade.

“It is also encouraging to see that we are doing this in a sustainable way, reducing carbon emissions in line with our commitment to net zero.”