Rainbow Seed Fund gains £1.5m boost from PSRE

Midven-managed Rainbow Seed Fund has been awarded a £1.5m share of the UK government's Public Sector Research Exploitation (PSRE) fund. The funding will be used to invest in very early-stage businesses from ideas emerging out of scientific breakthroughs and research. The £1.5m award takes Rainbow Seed Fund's total asset base to £10m.

The Rainbow Seed Fund is a seed capital fund dedicated to invest in technologies from the publicly funded research base. The award is part of the UK government's £68m award to 33 bidders across the UK.

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