Tag: Scottish National Investment Bank

University of Edinburgh invests £1m to tackle homelessness

University of Edinburgh invests further £1 million through Social and Sustainable Capital to enable UK charities and social enterprises to provide homes for service users

The University of Edinburgh has announced further investment of £1 million in a social housing fund. Managed by Social and Sustainable Capital, the SASH II fund loans charities and social enterprises the finance to purchase residential properties, which are then leased to people at risk of homelessness. 

The University hopes to build on the success of its previous £1 million investment in the first Social and Sustainable Housing Fund (SASH I), which raised £64.5 million and supported 20 social impact organisations across the UK.

SASH II aims to continue the success of the first fund, helping more organisations to provide decent homes for vulnerable people.

Over £35 million has been committed to date, with The Scottish National Investment Bank investing £15 million for allocation to Scottish organisations.

Life-changing impact across Scotland 

The Scottish organisations supported by the SASH I portfolio were Simon Community Scotland, the Positive Steps Partnership and the social enterprise Homes for Good Glasgow. 

Using a £5 million loan from SASH I, Simon Community Scotland purchased 15 properties across Edinburgh, providing affordable accommodation for up to 30 vulnerable adults at risk of homelessness. 

This has been life-changing for Greig, a tenant of the Simon Community Scotland Homes scheme in Edinburgh. He said, “Having a new home has changed my life in so much of a great way. I’ve got so much freedom to go out walking, to do my artwork – and I feel it’s helping with my mental health as well.

Dundee’s Positive Steps Partnership, is a charity helping ex-offenders and adults suffering drug addiction to transition from prison release to independent living. The £1.8 million investment from SASH I enables the Positive Steps Partnership to purchase 30 properties across Dundee for its service users. 

Homes for Good Glasgow is an award-winning social enterprise, using the £3.5 million loan from SASH I to purchase 47 properties in Glasgow and Ayrshire, providing quality rented accommodation for people living with mental health issues, family breakdown and recovery from drug dependency. 

Investing for social good 

Announced in 2019, the University’s Social Investment Fund has invested £8 million in funds that deliver a social benefit alongside a traditional financial return.

Dave Gorman, Director of Social Responsibility and Sustainability at the University of Edinburgh said, “As values-driven institutions with commitments to social and civic responsibility, universities can use their finances to address social issues, whilst generating a return on investment.

“That has been the mission of our Social Investment Fund.   We are delighted to support SASH II, having seen the positive impact that affordable housing can bring to vulnerable people here in our city and across Scotland.“

Mark Bickford, CEO of Social and Sustainable Capital said, “We are looking forward to building on the success of SASH I with fantastic, people-first organisations – all delivering significant social impact.

“We’re pleased to receive further investment from the University of Edinburgh, which demonstrates the potential of universities as social impact investors.

Alongside the University and the Scottish National Investment Bank, investors in SASH II include Better Society Capital, Greater Manchester Combined Authority, the Church of England’s Social Impact Investment Programme, Ceniarth, and Ogelsby Charitable Trust.

For more information on SASC visit: www.socialandsustainable.com

Search is on for Scotland’s next £1 Billion+ business

HUNTER FOUNDATION OPENS APPLICATIONS FOR SCALEUPSCOTLAND2.0 

The Hunter Foundation (‘THF’), in partnership with the Scottish National Investment Bank (‘The Bank’) has opened up applications for its second ScaleupScotland2.0 programme for highly ambitious, scaling businesses to join their next cohort.  

The programme sees 12 scaling businesses work collaboratively with fellow CEOs and leadership teams to supercharge growth over a one-year period beginning January 2024. During that year they attend quarterly overnight events for inspiration and action including masterclasses, focussed dinners and peer-to-peer learning. #

This year’s cohort have been supported and inspired by an incredible talent pool including: 

Professor Sir Chris Evans, Theo Paphitis, Kim Perdikou, Carolyn Jamieson, Ruth Chandler, Kristian Tapaninaho, Willie Watt, Lisa McPherson, Mike Reid, Yvette Hopkins, Bob Keiller, Mark Logan. Mark Beaumont and Calum Paterson,* 

The programme is hosted by Sir Tom Hunter at THF’s headquarters and leadership home at blairestate.co.uk. 

Developed after extensive analysis of the challenges facing businesses as they scale up, ScaleupScotland2.0 addresses the lack of strategic support available to high growth businesses and aims to grow the turnover of each business to over £100 million. 

Participant companies must be headquartered in Scotland with current revenues typically in excess of £20m, a record of strong year-on-year growth with the potential and matching ambition to achieve £100m+ revenues within the next 5 years. 

The programme is open to the CEO and Executive Leadership teams of up to 12 businesses. is cohort based and places a strong emphasis on peer-to-peer learning.  

On joining the programme, THF undertakes a deep dive into each business to identify and align the team on the specific challenges and opportunities facing the entrepreneurial leader, the collective executive team, and the individual functional leaders. 

One of the existing scaleup2.0 cohort, Richard Madden of WeConnect Energy noted: “The ScaleupScotland2.0 program has been a pivotal catalyst in our business growth journey, elevating our aspirations with an unparalleled network of trusted advisors and motivational speakers, forging invaluable links with fellow CEOs, and providing a gateway into the flourishing landscape of scalable Scottish businesses.” 

Fellow existing participant, Scott Smyth​, Founder & Group CEO of Soben added:  “StartupScotland2.0 has provided access to a new network of world leading entrepreneurs and business advisors that are already positively impacting the growth of my business. 

“In addition, I have got to work with and learn from an amazing cohort of other ambitious entrepreneurs each with a shared vision of scaling their business to £100m+” 

Sir Tom Hunter, founder of THF commented; “This programme is by and for entrepreneurs, a learning journey of unparalleled opportunity in my view that truly accelerates growth through knowledge and peer-to-peer support. 

 “The only way to move the economic dial in Scotland is to deliver far more scaling businesses and our portfolio of pre-scaler, scaleup core and scaleup2.0 joins the dots up to deliver some of that ambition so I’m delighted to host and sponsor 2.0.”  

Willie Watt chair of The Bank added: “The ScaleUpScotland2.0 programme aligns with The Bank’s missions.  We believe that a healthy scale-up support landscape is critical to enable growing businesses to thrive. 

“Ensuring that scaling businesses can access the support and guidance they need to sustain their growth brings productivity gains, high-value job creation and the power to transform our economy.”   

To apply CEOs should email scaleup@thehunterfoundation.co.uk

The programme is subsidised by THF and the Bank, with an additional fee for participants of £11K including all overnight accommodation and subsistence at Blair Castle and Estate. 

Applications close at midnight on 31st October 2023. 

Scottish National Investment Bank is open for business

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 will support the company’s further growth in Scotland and speaks to the bank’s proposed core missions.

First Minister Nicola Sturgeon said: “The Scottish National Investment Bank will help to tackle some of the biggest challenges we face now and in the years to come, delivering economic, social and environmental returns.

“It is hitting the ground running with its first major investment in M Squared – a great example of the ambitious and innovative companies we have here in Scotland that will be key to our economic recovery and future prosperity.

“The launch of the bank is one of the most significant developments in the lifetime of this parliament, with the potential for it to transform, grow and decarbonise Scotland’s economy.”

Scottish National Investment Bank Chair Willie Watt said: “Today is a key milestone for the Scottish National Investment Bank. Our launch enables us to make mission-led, strategic, patient investments in businesses and projects that can deliver benefits for the people of Scotland. I am excited about the role the Bank will play in supporting and enabling growth in the Scottish economy.

“We are particularly pleased that our first investment is in M Squared which is at the cutting edge of innovation and is a recognised world-leader in its field. It is our firm belief that the bank will make many more investments that deliver positive mission impacts in the years and decades to come.”

Dr Graeme Malcolm, CEO and founder of M Squared, said: “Science and advanced technologies have a major role to play in Scotland’s future economic prosperity. By increasing investment in research and development with a mission-based approach, Scotland has a real opportunity to actively tackle climate change and benefit from the coming quantum revolution.

“We are delighted that the Scottish National Investment Bank has invested in M Squared as its very first business – our shared commitments to society and the environment makes this an ideal partnership that will enable accelerated growth and progress in frontier technologies.”

Benny Higgins, Strategic Adviser to the First Minister on the establishment of the bank, said: “It has been a privilege to be part of an outstanding effort to make this a reality.

“We could not have predicted that the current pandemic renders the need for mission-led investment even more vital to create a robust, resilient wellbeing economy in Scotland.”

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First Minister launches consultation on Scottish National Investment Bank

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Work to establish a Scottish National Investment Bank took a step forward today with the launch of a public consultation on the details of the Bank’s operation. Continue reading First Minister launches consultation on Scottish National Investment Bank