An Enterprise Investment Scheme that led to a world-first innovation in online learning has given investors a 75x return on their money in a little over five years.

The Par Syndicate, a business angel network established by Edinburgh-based venture capital firm Par Equity, acquired International Correspondence Schools in late 2012.

At the time, despite being a long-established “distance learning” specialist, ICS was in danger of administration, with 50 jobs and the hopes of thousands of students at risk.

Now, after half a decade of refocusing and growth, it has been transformed into a fully fledged online education provider and a trailblazer in virtual learning environments.