Scottish Equity Partners (SEP) has announced major changes to its senior leadership team, effective from October 1.

Calum Paterson, who has been SEP’s Managing Partner since co-founding the firm in 2000, is moving to the role of Chairman & Senior Partner.

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

Angus Conroy and Keith Davidson have been appointed Co-Managing Partners of SEP.

“Both have helped to shape the firm’s strategy over the last decade and been responsible for leading SEP’s investments in a significant number of software companies, including AutoRek, FundApps and Dotmatics,” said SEP.

Fraser McLatchie, who is also a long serving and senior member of the SEP team, has been appointed Chief Operating Officer (COO). In addition, Tim Ankers, currently a director in the investment team, is being promoted to partner.

Calum Paterson 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.

“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.”