BANK of Ireland, in association with Davy stockbrokers and BDO Simpson Xavier, has launched its first Business Expansion Scheme. The new £5 million fund, announced yesterday, is aimed at customers who wish to invest between £3,000 and £25,000 before April 5th. Monies raised will be invested in a range of companies selected by the fund's three promoters. Under the BES scheme, investors take a stake in private companies for a minimum of five years. Funds invested qualify for tax relief.