Johnston Carmichael provided due diligence services for the Scottish Loan Fund (SLF), managed by Maven Capital Partners, in relation to its commitment of £1.5m of funding to the cloud optimisation business Cloudsoft.

SLF funds were committed alongside an equity investment led by existing investors.

An increasing number of large enterprises are moving their software applications to the cloud to reduce costs and improve performance and agility. Edinburgh-based Cloudsoft has developed a valuable software platform for the cloud computing market which it predominantly licenses to blue-chip clients. Cloudsoft’s key product is its Application Management Platform which streamlines the development and operation of cloud applications.

To date the SLF has committed over £50m to businesses throughout Scotland to help them achieve their business plans and facilitate the next stage of growth.