19 April 2012

UK Enterprise Fund Wants to Invest in Technology

The UK Government via the Enterprise Fund is making available up to £40m destined to invest in potential highly scalable small and medium sized enterprises.

The Enterprise Fund incorporates private investors which are also contributing a substantial amount, furthermore the European Investment Fund (EIF) is a participating body. It has been stated that the ideal candidates are cloud computing enterprises delivering Software-as-a-Service (SaaS).

The Business and Enterprise Minister Mark Prisk stated the this new investment will aid and support the growth of technology businesses.  Here is part of the statement:  “It is absolutely vital that ambitious small firms can access the finance they need to expand and grow, and this new Enterprise Capital Fund will provide at least £40m of funding to viable UK high- tech businesses, Notion Capital (the name where the new fund will be channelled to, Notion also has a pan-European reach and operability)  is the largest Enterprise Capital Fund to date and will help a significant number of firms to grow and create jobs, boosting our economy.”

John Holloway, director of Transaction and Relationship Management at the European Investment Fund, said: “A key aim of EIF is to support emerging fund managers in their development towards established market participants". Furthermore, the CEO of Capital for Enterprise Limited - Rory Earley stated: “We have been very impressed by the ability of the Notion Capital team to bring to bear their extensive entrepreneurial and operational experience to enhance the businesses in which they invest.