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Venture Capital Funds

Volume 449: debated on Wednesday 19 July 2006

To ask the Chancellor of the Exchequer how much has been allocated to regional venture capital funds in each year since 1999; and on what basis such allocations were made. (84791)

I have been asked to reply.

Allocations to the Regional Venture Capital Funds were £37.375 million in the financial year 2001-02, £31 million in 2002-03 and £6 million in 2003-04. The allocations were made as a result of a competitive bidding exercise in each English region.

To ask the Chancellor of the Exchequer how much of the £20 million fund allocated to aid the start-up of high tech venture capital funds has been spent in each year since 1999; and if he will make a statement. (84794)

I have been asked to reply.

The Government's total investment commitment to the UK High Technology Fund was drawn down in the financial year 2000-01 (£12 million in 2000 and a further £8 million in early 2001).

To ask the Chancellor of the Exchequer how much high tech venture capital funds have been set up in (a) England, (b) Scotland, (c) Wales and (d) Northern Ireland in each year since 1999 as a result of the start-up funding announced in the 1999 Budget. (84795)

I have been asked to reply.

The UK High Technology Fund was established in 1999 and has invested in nine existing high technology-based venture capital firms based in the UK. All of these funds can invest across the UK.