The British Business Bank has launched a new £150m Investment Fund for Scotland (IFS) to help smaller businesses across the country to prosper and thrive. The IFS is the first solely UK government-backed investment fund for smaller businesses in Scotland and aims to increase sustainable economic progress by supporting new and growing businesses through investment strategies most suited to their needs.

The IFS will be managed by three fund managers, who will provide loans and equity deals ranging from £25,000 to £5m. The fund is part of a series of six new Nations and Regions Investment Funds being launched by the British Business Bank, which is committed to ensuring that founders from all over the country have the same prospects in terms of finance. The fund is expected to create local opportunities and generate an impact that spans beyond the fund, helping to boost productivity, innovation and employment.