Scottish National Investment Bank makes its first investment
Tuesday, 24 November 2020
The Scottish National Investment Bank has officially opened for business and completed its first major investment. The Scottish Government has committed to investing £2 billion over 10 years to capitalise the Bank, which will have a mission based approach and support innovative, high growth firms that have a positive impact in Scotland. It’s primary mission will be to support Scotland’s transition to net zero carbon emissions through a range of debt and equity products.
A key focus for the Scottish National Investment Bank will be ‘patient finance’, with money invested over a 10 – 15 years. Businesses in Scotland have often found it difficult to borrow money over this time frame. The Bank’s first investment is £12.5m in a Glasgow-based laser technology company.
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