§ Mr. Don FosterTo ask the Chancellor of the Exchequer which Department will be administering the new Community Development Venture Capital Fund announced in the Budget; who the intended recipients of this fund are; what guidelines have been drawn up for those wishing to bid for this fund; and if he will place a copy of these guidelines in the Library. [54727]
§ Ruth KellyThe Community Development Venture Fund is a private sector venture capital fund in which the Government is investing. The fund will be run by a professional team of venture capital fund managers working for Bridges Community Ventures Limited. The fund will be able to invest in eligible businesses in deprived communities in England, defined as the most deprived 25 per cent. of wards according to the DTLR's Index of Multiple Deprivation. The criteria for eligibility will be published by Bridges Community Ventures Limited under the terms agreed between them and the Small Business Service.