HC Deb 17 January 2002 vol 378 c418W
20. Jim Dobbin

To ask the Secretary of State for Trade and Industry what steps she is taking to increase access to venture capital funds in the regions of England. [25568]

31. Mr. Neil Turner

To ask the Secretary of State for Trade and Industry what steps she is taking to increase access to venture capital funds in the regions of England. [25579]

Alan Johnson

To increase access to venture capital in the English regions the Government are seeking to stimulate the creation of Regional Venture Capital Funds (RVCFs). Being developed on the basis of one in each of the English regions they are being established to demonstrate institutional investment in the "equity gap" and demonstrate to institutional investors that commercial returns can be made in this sector; to increase the supply of venture capital in amounts of under £500,000; and ensure that every English region has access to "equity gap" funds. All RVCFs will be commercially focused with fund management and all investment decisions undertaken by experienced fund managers. All funds should launch during 2002.