Department for Business, Innovation and Skills
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Business Minister announces £40 million boost for high growth SMEsBusiness Minister announces £40 million boost for high growth SMEs
Business Minister Michael Fallon announced the launch of a new Enterprise Capital Fund (ECF) to invest in science, technology and engineering-based small and medium sized enterprises (SMEs).
The new fund, Longwall Ventures ECF, is the twelfth Enterprise Capital Fund and comprises £25 million of Government investment and £15 million from private investors. With this funding, Longwall Ventures ECF will be able to invest in funding rounds of up to £2 million to support these growth businesses. The Government’s investment in the funds is made and managed by Capital for Enterprise Limited, the Government’s investment company.
The Minister made the announcement during a speech at the Investing for Success: The SEIS briefing, at the London Stock Exchange, where entrepreneurs discussed the Seed Enterprise Investment Scheme (SEIS) which aims to encourage investors to put their money into new firms by offering significant tax breaks.
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