Commenting on the GovernmentÃ¢â‚¬â„¢s decision to create a Ã‚Â£150 million fund-of-funds, to scale up to Ã‚Â£1bn over time and aimed at enhancing the venture capital sector, Simon Walker, Chief Executive of the British Private Equity and Venture Capital Association, said.
Ã¢â‚¬Å“I am delighted that ministers have accepted a model on which the BVCA has campaigned for more than two years and which has been supported recently by others including the CBI and NESTA. I am convinced that this scheme can make a real difference provided it is implemented with the urgency that it deserves. Venture capital should be in the vanguard of economic recovery in Britain and it now has the chance to move from the relative fringe in economic thinking squarely to centre stage.Ã¢â‚¬Â
FOR FURTHER INFORMATION PLEASE CONTACT
Tim Hames, BVCA 0207 025 2968/07721 508082
Nathan Williams, BVCA 0207 025 2967
Notes to Editors
1. The British Private Equity and Venture Capital Association (BVCA) is the industry body for the UK private equity and venture capital industry. The BVCA has over 450 member firms, representing the overwhelming number of UK-based private equity and venture capital firms and their advisers.