Enterprise Ventures launches loan fund with Unity Trust Bank
Venture capital investor Enterprise Ventures has reportedly set up a £3m loan fund with Unity Trust Bank.
The fund will invest in UK-based SMEs alongside equity funding from Enterprise Ventures.
Unity Trust Bank is 73% owned by trade unions, with the remaining shares held by the Co-operative Bank.
Enterprise Ventures invests £30,000-2m in UK firms in information technology, communications, life sciences, business services, manufacturing and distribution.
The VC manages The North West Fund, which is jointly financed by the European Regional Development Fund and the European Investment Bank. Earlier this month, the fund injected £500,000 into Manchester-based freight containers company Loksys Solutions Ltd.
Enterprise Ventures could not be reached for comment.
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