Investment fund created
The UK Government has put £20 million into a £30 million Enterprise Capital Fund (ECF) to be managed by TTP Ventures, a specialist early stage venture investor.
The ECF programme is a multimillion pound scheme to boost investment in small and medium-sized businesses in the UK. The programme is administered on behalf of the government by Capital for Enterprise Limited, which selected TTP Ventures.
David Gee, CEO of TTP Ventures, said, “We see great opportunities for investment in early stage IT and clean technology businesses at a time when many investors have been moving later stage. We believe our investment approach will be highly appealing to ambitious entrepreneurs and will deliver substantial returns for our investors.”
Enterprise Capital Funds were set up to address a market weakness in the provision of equity finance to small companies. Government funding is used alongside private sector funds to establish funds that operate in the equity gap, targeting investments of up to £2 million.
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