£1m for Highland ice climbing centre

ICE Factor, an ice climbing wall operator based in Kinlochleven, has received a £1 million funding boost from founder Jamie Smith, Highland Venture Capital (HVC) and the Scottish Enterprise co-investment fund.

Smith said the money would be used to franchise his business in the UK and abroad. He is already looking for a site in Inverness.

Ice Factor has brought on board serial entrepreneur Robert Murray as finance director and Neil Cunningham, of corporate hospitality group Matchpoint, as its chairman. Both are members of HVC.

Smith said: "We're absolutely delighted to have raised this much equity and partnership with HSBC, but the real bonus is the greatly enhanced calibre of the management team."

HVC has invested 2m in eight firms since 2006.