Hebridean whisky distillery secures £1.5 million from Maven

Benbecula Distillery, a Scotch whisky distillery on the island of Benbecula in the Outer Hebrides, has secured a £1.5 million investment from the British Business Bank’s Investment Fund for Scotland, via Fund Manager, Maven. This represents the Fund’s first equity investment in the Highlands and Islands. 

Reviving a recipe first crafted over 130 years ago, Benbecula Distillery began production in spring 2024 and has quickly established itself as a distinctive new voice in Scotland’s whisky industry. Its visitor centre and café opened in April 2025, attracting locals and tourists with guided tours and whisky tastings, island-inspired cuisine, and creating new employment opportunities for the Hebridean community.

The business is led by founder Angus MacMillan and managing director Hector MacLeod, both born and raised on the Islands. Distilling is overseen by master distiller Brendan McCarron, whose career has included senior roles with Moët Hennessy and Distell, and is admired for critically-acclaimed whiskies he has created for Glenmorangie, Ardbeg, Oban, Tobermory, Deanston and Bunnahabhain.

Benbecula Distillery has just launched its private cask offering, providing whisky enthusiasts and investors with the opportunity to secure early access to Benbecula Distillery spirit ahead of first bottled releases. Cask sales will be limited to just the first three years of production. This second year’s offering runs to just 120 casks, in three varieties: Palo Cortado Hogshead, Red Wine Barrique and Bourbon Barrel. The 2024 offer successfully sold out.

The deal followed an introduction between founder Angus MacMillan and Maven investment manager Rob Stevenson at a ‘Meet the Investor’ clinic, part of Maven’s initiative to connect entrepreneurs across Scotland with growth capital. Benbecula Distillery is the second company to secure investment through this programme, underscoring Maven’s commitment to supporting ambitious businesses nationwide.

The funding will allow the distillery to embark on a programme of growth to scale production and support working capital needs during the whisky maturation process. The investment will also allow the business to develop new infrastructure and help create skilled jobs on the island, as the distillery continues to lay down spirit.

 “Securing this investment is a major milestone for us and for the island. It gives us the ability to scale production with confidence, continue creating skilled jobs locally, and develop visitor experiences that bring people closer to our story. Most importantly, it allows us to keep laying down spirit for future generations. Benbecula Distillery was founded to celebrate the Outer Hebrides’ people and place and this backing helps us realise that vision.”

Angus MacMillan, Founder of Benbecula Distillery

 “We’re excited to announce our investment in Benbecula Distillery and to back an ambitious and passionate local Hebridean team. What stood out to us immediately was the Distillery’s dedication to craft, their deep respect for industry tradition, and their clear vision for the future which includes a strong commitment to doing things the right way. We believe the investment has the potential to bolster the island community while building a brand that celebrates Scotland’s whisky heritage.”

Rob Stevenson, Investment Manager at Maven

"The Investment Fund for Scotland was created to fund ambitious businesses across the country, and Benbecula Distillery is the perfect example of the kind of bold, community-rooted venture we’re proud to see the fund support. This investment will not only fuel the development of a distinctive whisky brand but also drive job creation and economic growth in the Outer Hebrides, inviting locals and visitors from further afield to visit the Isles and try some of Scotland’s best spirit. The distillery team’s dedication to its craft and local impact mirrors our mission to help smaller businesses succeed and we are eager to see where they take the brand next.”

Sarah Newbould,  Senior Investment Manager at Nations & Regions Investment Funds, the British Business Bank 

This marks the latest investment made by IFS Maven Equity Finance, showcasing Maven’s strong track record of identifying and nurturing high potential businesses, and the opportunity in Scotland to drive innovation and growth. The Fund has also backed B-Corp accredited water treatment specialist, Scotmas Group, 3D printed micro-tumour specialist, Carcinotech, and premium Indian ready meals business, Praveen Kumar.

IFS - Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across Scotland. If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here.