Investment & Fund Management

Companies looking for significant investment will now be able to access an additional £200 million through the Scottish-European Growth Co-investment Programme. This Programme is part of the Scottish Growth Scheme, a £500 million financial package backed by the Scottish Government, aimed at helping businesses thrive and grow. It combines £50 million from Scottish Enterprise and £50 million from the European Investment Fund (EIF), with expectations to leverage over £100 million from fund managers across Europe for investment in Scottish companies.

The Programme specifically targets companies seeking large equity investments to support their growth plans, particularly in light of economic uncertainties such as Brexit. Finance Secretary Derek Mackay emphasized the importance of this initiative in stimulating growth and creating job opportunities in Scotland. The Scottish Investment Bank will provide advice and support to companies, ensuring they are well-prepared to attract significant investment.

The EIF Chief Executive, Pier Luigi Gilibert, expressed enthusiasm for the Programme, highlighting its role in supporting Scottish SMEs and attracting international private equity investment. The initiative is expected to facilitate access to £100 million of new finance, contributing to job creation and economic growth in Scotland.

CelluComp, an industrial technology company that has developed a cellulose-based material used in various markets, hosted the announcement of the Programme. CEO Christian Kemp-Griffin noted that their growth has been supported by various grants and investments, and emphasized the need for adequate financial commitments to bring innovative products to market. The collaboration between European and Scottish funds is seen as crucial for the future prosperity of companies like CelluComp.