The IFS will be the first solely UK government-backed investment fund for smaller businesses in Scotland.
It aims to increase sustainable economic progress by supporting new and growing businesses across the whole of Scotland through investment strategies most suited to their needs.
Three fund managers have been appointed to manage the IFS, with DSL Business Finance managing the smaller loans (£25,000 to £100,000) and the FSE Group managing larger facilities (£100,000 to £2m).
Maven Capital Partners will be spearheading equity deals up to £5m.
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Louis Taylor, CEO at the British Business Bank (pictured above), commented: “With this fund for Scottish businesses, we hope to open the doors to new opportunities for a range of smaller firms looking to get started, grow, and develop across different sectors.
“We know that access to finance is a key concern for small businesses, and are committed to ensuring that founders from all over the country have the same prospects in terms of finance.
“We want to create local opportunities and generate an impact that spans beyond the fund, helping to boost productivity, innovation and employment.”
The IFS is the second in a series of six new Nations and Regions Investment Funds being launched by the British Business Bank, following the launch of the South West Investment Fund in July.
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