§ Mr. BercowTo ask the Chancellor of the Exchequer over what period the community development venture capital fund will provide the £40 million referred to in his Budget speech. [52369]
§ Mr. BoatengThe Government expect the Community Development Venture Fund to be launched and begin operating shortly. The first investments are likely to be made in 2002–03, and the fund is likely to be invested within three to six years, allowing a reserve for follow-on investments as portfolio companies grow. The investment profile and timing will depend on the opportunities that the fund identifies, the time taken to bring companies to the point of investment readiness, and on market conditions.