Small- and medium-sized enterprises (SMEs) in the South East of England have a new source of risk capital now that the eagerly anticipated South East Growth Fund (SEGF) has become fully operational. The fund has already received a significant number of enquiries and has made investments in 11 companies and has a further 6 where a commitment has been agreed in principle.
Investors in the Fund include NMB-Heller, Barclays, Berkshire Pension Fund, Royal Bank of Scotland, European Investment Fund, the DTI and WM Enterprise.
Although operational since October 2002, the South East Growth Fund was officially launched on June 2, at Sandown Park.
SEGF is seeking to make initial venture capital investments of up to Ј250,000 with follow-on investments up to a further Ј250,000, in companies at all stages of their development and expects to support up to 100 companies over the next five years.
