The Business Growth Fund has partnered with the Scottish Venture Fund, a public investment vehicle for SMEs.The Scottish Venture Fund was introduced in 2007 to support Scotland’s SMEs by co-investing up to £2m. The fund matches public money with private sector investments and has committed £41.8m to 33 companies so far. “Our co-investment approach has proved to be a catalyst for increased equity finance in Scotland, even at a time when investors are being cautious,” said Gerard Kelly, head of the Scottish Investment Bank, which manages the Scottish Venture Fund. The Business Growth Fund was launched earlier this year and has made two investments, employee payments business Benefex and travel management company Statesman Travel Group.
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