The organisation will divide the cash between 24 charities over the next 10 years through its 14:19 Fund.
The funding stream is targeted at improving the lives of 14- to 19-year-olds who are struggling to make a successful transition from school to the next stage of their lives.
Organisations that will receive funding include Action for Children Scotland and the Venture Trust.
Andrew Muirhead, chief executive of Inspiring Scotland said that 56,000 vulnerable young people would be helped across 17 local authorities.
The Scottish Government has invested more than £9m over three years and this is being used alongside support from other investors.
Details of support being provided to individual charities will be announced in the coming weeks.
There are approximately 32,000 young people in Scotland who are unlikely to end up in education, employment or training when they leave school, according to Scotland's annual population survey.
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