Scottish software company Vamosa Friday received GBP1 million from the U.K. government's Capital for Enterprise Fund, through which it is investing GBP75 million in small companies requiring long-term capital.

The investment in Vamosa is being managed by Maven Capital Partners, which is presiding over GBP30 million of the fund, and is one of the first investments to be made.

He said due diligence is underway on several other funding opportunities, with more investments expected to be completed in the coming months.

The Capital for Enterprise Fund will provide equity of between GBP200,000 and GBP2 million to small- and medium-sized U.K. companies with viable business models and growth potential that require long-term capital.

The total comprises GBP50 million from the government and GBP25 million from retail banks Barclays PLC (BARC.LN), HSBC Holdings PLC (HSBA.LN), Lloyds Banking Group PLC (LLOY.LN) and Royal Bank of Scotland Group PLC (RBS.LN).

Octopus Investments is managing another GBP30 million of the fund, while the remaining GBP15 million will be invested directly by fund managers at asset management company Capital for Enterprise on a co-investment basis.

-By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; hannah.benjamin@dowjones.com