Investment Fund for Scotland
The question
To ask the Secretary of State for Business and Trade, how much has been allocated from the Investment Fund for Scotland to businesses to date; and what estimate he has made of the amount that will be allocated in each year of the Fund's operation.
Answered by Gareth Thomas
A total of £150 million has been committed to the Investment Fund for Scotland. Three fund managers have been contracted to provide £110 million of this total in debt and equity finance to small businesses. The British Business Bank has retained the remaining £40 million in reserve, which will be allocated during the life of the fund depending on market conditions and fund performance. The funding has initially been split approximately 45% to equity and 55% to debt. The expectation is that the funding will be fully deployed during the first five years.
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