Successful application is a step towards longer term ambitions
The Financial Conduct Authority (‘FCA’) has approved an application for authorisation by the Bank’s wholly owned subsidiary, Scottish Investments Limited. This initial set of permissions will support us to engage more proactively in the market.
Al Denholm, CEO at the Bank, said: “Catalysing private investment has been a key priority for the Bank since inception. To date, the Bank has crowded in £1.4bn alongside our investments of £662m . This approval increases our options and flexibility around how we can encourage more investment in Scotland, helping scale the pipeline of businesses poised to deliver against our missions and drive economic growth.”
The Bank is an impact investor, focused on delivering tangible benefits alongside commercial returns on public capital. It was established to address the large-scale challenges facing Scotland through its missions to address the climate crisis, scale innovation and technology, and transform communities into places where everyone thrives.
