Regional venture capital fund manager is selected

East of England Development Agency, in association with the Small Businesses Service, has appointed Classic Fund Management as fund manager to a new regional venture capital fund focusing on investment in small and medium sized businesses in the East of England. The fund, which will eventually total £25-£30m, is one of nine venture capital funds that are being developed with the financial support of the DTI for regional investment in England. The fund will invest £100,000-£500,000 in early-stage and expansion-stage companies and is expected to have a life of 12 years. Graham Spooner of Classic Fund Management will be the fund manager, Bill Cunningham the fund investment executive and Robert Wilson the head of portfolio management.

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