The Scottish Government has made funding available to Scottish Enterprise under the Scottish Growth Scheme. This will allow Scottish Enterprise to enter into an innovative partnership with the European Investment Fund to create the Scottish-European Growth Co-Investment Programme.
The Scottish European Growth Co-Investment Programme is suitable for businesses in all areas of Scotland looking for equity investment to meet their growth ambitions.
Commercially-viable businesses that have an established operating base in Scotland would be eligible to apply for this fund.
Under this partnership, eligible companies will have access to £50 million from Scottish Enterprise and £50 million from the European Investment Fund, which will leverage at least £100 million from private sector fund managers. The aim of this fund is to increase the availability of later stage equity investment available to Scottish SMEs.
Through this programme, Scottish Enterprise can invest a maximum of £5 million into any one company. However, we cannot invest more than the European Investment Fund or more than 50% of the fund manager's investment.
Securing the type of investment available through this initiative can bring a number of benefits, including:
- Access to larger investment amounts with the ability to secure follow-on investment as your business grows
- Access to networks including customers, supply chain and industry expertise
- Access to additional management or board skills