Norrie Cook – Head of fund, Scotland at The FSE Group

The FSE Group manages the Debt Fund on behalf of the British Business Bank and is responsible for deploying finance to ambitious Scottish businesses with strong growth potential. To date, the fund has provided more than £16.2m of funding to 28 businesses across Scotland, helping to leverage a further £6.4m of additional private sector investment.

The Investment Fund for Scotland Debt Fund supports businesses across a wide range of sectors, backing innovation, job creation and sustainable growth. Companies already supported include Dundee-based Ecoanolytes, an environmentally focused cleaning products business using mineral-based, non-toxic solutions to reduce the use of harsh chemicals and single-use plastics.

The fund has also backed Fife-based agritech company Duradiamond Software, developer of the iLivestock platform, which combines patented hardware and software to help farmers better manage livestock data, improve animal health outcomes and increase productivity. Investment is supporting international expansion, new hires and further development of its technology and manufacturing capabilities.

Edinburgh-based LS Productions is another business to benefit from the fund. One of the UK’s largest independent production services companies, LS Productions works with major global brands and studios across advertising, film and TV.

Norrie Cook, head of fund, Scotland at The FSE Group, said: “This additional commitment from the British Business Bank is a strong vote of confidence in both the Investment Fund for Scotland Debt Fund and the businesses we are supporting through it.

“Demand for flexible, growth-focused debt finance across Scotland remains high, and this increased fund size allows us to continue backing ambitious companies that are creating jobs, innovating in their sectors and contributing positively to local economies.”

Sarah Newbould, senior investment manager at Nations & Regions Investment Funds, the British Business Bank, said: “This increased commitment reflects the important role the Investment Fund for Scotland plays in expanding access to finance for smaller businesses.

“By growing the Debt Fund, we can help address gaps in the market and ensure more companies across Scotland are able to secure the funding they need to invest, develop and scale. Working with experienced fund managers like The FSE Group helps ensure this finance reaches businesses with strong potential for long-term growth.”

Marie Owen, CEO and co-founder of LS Productions, added: “Access to the Investment Fund for Scotland has played an important role in supporting our growth plans.

“The funding has allowed us to invest confidently in our team, our technology and our international ambitions, while continuing to build our business from Scotland.

“It’s encouraging to see further investment committed to the fund, ensuring more businesses can benefit in the same way.”