UK - Trade bodies request govt-backed VC fund-of-funds

The fund would invest in start-up companies through private sector venture capital funds.

The letter, which was signed by eight groups including the British Private Equity and Venture Capital Association, IT trade body Intellect, the BioIndustry Association and Nesta, said that many of the UK's 1,100 companies needed help in accessing 'follow on' funding to survive the downturn.

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