To ask the Minister of State, Department for Business, Innovation and Skills pursuant to the answer of 9 September 2009, Official Report, column 2092W, on the UK High Technology Fund (UKHTF), what the cost of management fees related to the UKHTF has been in each year since its formation; for what reasons the number of companies receiving funding through the UKHTF was lower in 2007 and 2008 than in 2006; which underlying funds have received funding from the UKHTF; what the monetary value of funding from the UKHTF to underlying funds was in each year since 2001; and how much funding remains available for (a) future funding of underlying funds and (b) in underlying funds which have received funding from UKHTF for future investments in business. (292909)

[holding answer 14 October 2009]: The following table provides a response to the questions related to underlying funds that have received funding from the UKHTF; the monetary value of investments from the UKHTF to underlying funds in each year since 2001; and how much funding remains available for future funding of underlying funds.

The number of companies receiving investment through UKHTF was lower in 2007 and 2008 than in 2006 as a natural consequence of the underlying funds entering their post investment period where the focus was towards managing out and exiting the existing portfolio.

Unfortunately the information requested in this question about cost of management fees related to UKHTF is commercially sensitive at this time in light of work BIS is undertaking to source a fund of funds manager for the UK Innovation Investment Fund (UKIIF). The information will be released once the UKIIF fund of funds manager is appointed and this is likely to happen at the end of December.

We are unable to answer the question about how much funding remains available in underlying funds which have received funding from UKHTF for future investments in business, as this goes beyond the Department's interaction with the fund of funds manager.