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BROWN PLEDGES CASH TO HELP KICK-START ENTREPRENEURS

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Regional venture capital funds are to be set up across the UK to help stimulate enterprise and kick-start small and...
Regional venture capital funds are to be set up across the UK to help stimulate enterprise and kick-start small and medium-sized businesses.

In his pre-Budget report, chancellor Gordon Brown said: 'Enterprise for all demands balanced economic growth across all the regions and nations of Britain.'

The funds are expected to lever in some£250 million of private sector, alongside£50m of government money.

The South East Development Agency is already looking to the private sector to help it create its venture capital fund and expects it to reach a total value of£30m.

SEEDA hopes to establish a limited partnership arrangement with its chosen fund manager being the general partner and SEEDA being a limited partner.
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