First enterprise capital funds launched
Friday 07 April 2006
The first two Enterprise Capital Funds, set up to boost innovation, jobs and growth for small and medium-sized enterprises (SMEs) in the UK have recently been launched.
Operating across the UK, the 21st Century Sustainable Technology Growth Fund of £30 million will assist high growth companies that employ leading edge sustainable technology. In addition the IQ Capital Fund will be operated across Cambridge, Oxford and Bristol and will offer investments of up to £1.5 million for technology-based SMEs.
Combining government and private sector money, the funds have been designed to help bridge the equity gap faced by SMEs. Gaps occur in funding of between £500,000 and £2 million making it difficult for SMEs to raise the finance they require.
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