Achieving this scale of investment in a relatively short time frame is great to see, and even more encouraging is the additional finance that has been committed through other institutions and syndicates. Scotland is a proud nation of small businesses, many supporting local economies and jobs, as well as embracing emerging technologies in exciting high-growth sectors that have the potential to shape industries.
The Investment Fund for Scotland has encouraged business owners in all parts of Scotland to use finance to build their teams, expand into new markets and develop new products, with many of them exploring debt finance for the first time. Common among these entrepreneurs is an appetite for growth and being able to access support along the way is a crucial aspect of success. The £150 million fund was established to improve access to finance for growing businesses with investment strategies that best meet their needs, regardless of who they are or where they are based, and it is great to see the impact so far.
The Investment Fund for Scotland has delivered over £25 million in financial support to Scottish businesses since it launched 18 months ago, supporting 58 firms across the country to develop and grow.
Alongside the significant investment from the Bank, an additional £26 million in private sector funding has also been committed, making the total investment into Scotland over £52 million so far. Launched in October 2023, the Investment Fund for Scotland aims to improve access to finance and boost the Scottish economy, with loans from £25,000 to £2 million and equity investment up to £5 million available to help small and medium sized businesses to start up, scale up or stay ahead. Delivered through its dedicated fund managers – DSL Business Finance, The FSE Group and Maven Capital Partners.
Mark Sterritt, Director, Nations and Regions Funds, at the British Business Bank, said:
