London Seed Capital to concentrate on equity gap

London's early growth businesses are set to benefit from extra equity funding available through London's economic development company's venture capital company. Its principal investor, the small business service, a division of the DTI, is providing an extra £2m funding. This gives GLE's London Seed Capital £5m to co-invest with GLE's London Business Angels. This additional funding coincides with the completion of two further investments by the LSC fund in April, bringing the total number of deals completed to six. London Seed Capital (LSC) is an innovative new company designed to bridge the equity gap faced by many SMEs seeking finance. By exclusively co-investing with private investors from its sister organisation, London Business Angels, it provides a ready dealflow and initial screening service for all applicants, behaving much like any other angel investor.

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• UK / Ireland