UK - Govt to create £150m fund-of-funds

Both NESTA and the BVCA, which has campaigned for such a vehicle for two years, have welcomed the initiative, provided the Government implements the plan with urgency to fund UK start-up companies on the verge of collapse. BVCA chief executive Simon Walker was quoted as saying that the scheme gives venture capital the chance "to move from the relative fringe in economic thinking squarely to centre stage".

30% of the UK's high-tech start-ups faced liquidity problems in early 2009. The capital from the new fund-of-funds is expected to provide a significant injection into the market, which only managed to raise less than £200m last year, compared with over £600m the year before.

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• Topics
• Fund-of-funds
• UK / Ireland