Barclays backs regional funds

Barclays Bank is supporting the government-backed Regional Venture Capital Funds (RVCFs) through its £200 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 £66 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.