Scotland Offers The Deal of the Century: But We Must Back Our Best Companies to Stay and Grow
Federico Charosky, CEO of Quorum Cyber
“My message to investors is simple: Scotland is the deal of the century. If you back these companies now, you’re not just making a smart investment - you’re helping to ensure they stay, grow, and thrive here.”
When I first moved to Scotland in 2010, I couldn’t have pointed to the capital city on a map. I had an offer from a major Silicon Valley tech giant, the safe choice, but instead I took what looked like the crazy path: joining a start-up in Edinburgh. Fifteen years later, after building Quorum Cyber into a 400-strong, private-equity-backed business, I can say this, Scotland is one of the best places in the world to start a company. But, unless we fix the second stage of funding, too many of our brightest firms could end up leaving.
Next month, I’m speaking at Invest2Scale, a unique, invitation-only event that brings together Scotland’s most ambitious scale-ups with leading UK and international investors. It’s a practical platform that bridges the gap between early-stage support and the growth capital that companies need to stay and thrive here.
Scotland has many unique advantages. Our universities produce world-class talent in cyber, data and AI. In my own personal experience, we’ve built two businesses hiring scores of graduates from Strathclyde, Abertay, Napier and Glasgow Caledonian universities. These aren’t Oxbridge recruits, they’re young people from Scottish postcodes who bring enormous capability and drive. They’ve allowed us to win contracts against global outsourcing giants.
Add to that a connected ecosystem where you can reach decision-makers more quickly than in London, and a cost base that’s competitive against the US, and you have the foundations for scale.
For the first three years of Quorum Cyber, we bootstrapped. By 2020, we had 30 people and £3 million in revenue. That was the moment I knew we had the product-market fit and needed real fuel for growth.
Our first private equity partner was Maven. We signed the deal in June 2020, just as the world went into lockdown. Eighteen months later, we partnered with Livingbridge, and then in 2024 with Charlesbank, a Boston-based firm. That backing has enabled us to expand into North America, acquire companies in the US and Canada, and grow to nearly 400 people across three continents.
Each stage was different, but one lesson remained constant, investment is not just about money. The right partner, the right governance, and the right culture matter just as much.
Scotland is excellent at early-stage support. When it comes to angel money, grants, and accelerators, we do the “starter story” very well. The problem comes in the next stage. Once a business proves viable and needs serious growth capital, the Scottish ecosystem seems to dry up.
For our second and third deals, there was no Scottish capital at the table. That’s a missed opportunity. We are good at starting companies, but we are effectively shipping them off elsewhere once they scale. That means the jobs, the growth, and often the headquarters risk drifting away too.
And that’s why Invest2Scale plays an important role. It’s designed to help close that gap and put Scotland’s most ambitious scale-ups in front of the investors who can take them to the next level.
For investors, it’s a chance to see the “best kept secret” in Europe: high-quality Scottish businesses, world-class talent, and valuations that remain undervalued compared to London or the US.
My message to investors is simple: Scotland is the deal of the century. If you back these companies now, you’re not just making a smart investment - you’re helping to ensure they stay, grow, and thrive here.
And my message to founders is equally important: don’t undersell yourselves. Defend your term sheets, shop around, and know your worth.
At Quorum Cyber, our goal is to prove a Scottish-founded cyber company can reach unicorn status without exiting. We already have the capital we need to get there. Now it’s about execution, patience, and building a high-performing team.
But for Scotland as a whole, the ambition must be bigger. We have the universities, the talent, and the ecosystem. What we need now is visibility and follow-through: ensuring that Scottish businesses can not only start here but also scale here.
Federico Charosky is CEO of Quorum Cyber
