Tag: Scottish National Investment Bank

Pulpex announces £62m Series D funding

Stuart Mitchell

Pulpex Limited, the sustainable packaging technology company, have recently announced a £62m Series D investment round led by the National Wealth Fund (“the NWF”) and the Scottish National Investment Bank (“the Bank”). The NWF will cornerstone the round committing £43.5m in direct equity, with a £10m co-investment from the Scottish National Investment Bank and the balance from existing investors. The fundraise will finance the construction of Pulpex’s first commercial-scale manufacturing facility near Glasgow, marking the NWF’s first investment in Scotland since its transformation. Pulpex has developed a unique, fibre-based bottle…

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First Minister launches Scottish National Investment Bank.

Stuart Mitchell

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…

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Scotland looks at creating an ethical publicly-owned investment bank

Stuart Mitchell

A Scottish National Investment Bank is one step closer, following the publication of the implementation plan. Developed by Benny Higgins, CEO of Tesco Bank, the plan has recommendations covering the remit, governance, operating model and financing of the new bank. The plan recommends that the bank should: Be publicly-owned and mission-driven, focused on supporting Scotland’s economic priorities and promoting inclusive growth Operate in an ethical and transparent way Cowork to crowd in, not crowd out, private sector investment Be supported by long-term capitalisation of at least £2 billion over the…

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