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Barclays backs regional funds

Barclays Bank is supporting the government-backed Regional Venture Capital Funds (RVCFs) through its GBP200 million initiative that has been set up to support the UK enterprise economy and the regeneration of business in the regions. Of this amount, up to GBP66 million will be available for the Department of Trade and Industry sponsored Small Business Service initiative offering venture capital funding to small and medium-sized businesses throughout the UK.

Barclays is the first high street bank to announce its support for the RVCFs which gained approval from the European Commission earlier this year – see evcj July/August, page 16.