To be eligible for the Scottish-European Growth Co-Investment Programme your company must secure an investment commitment from a European Investment Fund accredited fund manager.
Your company must also:
- Be a commercially-viable business, with growth and international ambition
- Have an established operating base in Scotland
- Meet the European Union definition of a SME - This means having fewer than 250 employees, an annual turnover of no more than €50 million, and/or annual balance sheet Net Asset Value below €43 million.
The investment can be used:
- As growth capital
- As acquisition finance
- To partially fund a management buy-out or a management buy-in
- To fund an exit of existing shareholders - In each case 75% or more of the total funding round would be used for growth (i.e. a capital increase and not refinancing).
The investment cannot be used to directly fund activity in the following sectors:
- Distilled alcohol (such as whisky)
- Real estate/property development
- Banking and insurance
- Adult entertainment
- Sub-prime financing
- Religious or political movements
- Movements, which have an adverse impact on animal or human rights.
The fund managers will confirm your eligibility as part of your company appraisal.