Regional Venture Capital Fund

Trade and Industry written question – answered on 12th February 2004.

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Photo of Stephen O'Brien Stephen O'Brien Shadow Secretary of State for Business, Innovation and Skills, Shadow Secretary of State for Industry

To ask the Secretary of State for Trade and Industry how her Department is (a) monitoring and (b) evaluating the performance of regional venture capital funds.

Photo of Nigel Griffiths Nigel Griffiths Parliamentary Under-Secretary, Department of Trade and Industry

The Limited Partnership Agreement (LPA) requires the RVCF Fund Manager to establish and report progress of the fund to an Advisory Committee on a regular meeting cycle. Both the DTI and the local Regional Development Agency have a seat on the Advisory Committee for each RVCF. The LPA also requires the fund manager to supply regular reports to investors.

The report of an Early Assessment of the RVCF Programme can be found on the website www. businesslink.gov.uk/regional-venture-capital-fiind.

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