The Scottish National Investment Bank has officially opened for business with the completion of its first major investment.
It is the UK’s first mission-led development bank and it is being capitalised by the Scottish Government with £2 billion over ten years.
The bank’s proposed missions will focus on supporting Scotland’s transition to net zero, extending equality of opportunity through improving places, and harnessing innovation to enable Scotland to flourish.
It will provide patient capital – a form of long term investment – for businesses and projects in Scotland, and catalyse further private sector investment.
Today’s £12.5 million investment in Glasgow-based laser and quantum technology company M Squared Lasers will support the company’s further growth in Scotland and speaks to the bank’s proposed core missions.
Further information here