Regional venture capital funds (RVCFs), launched in 2002, were designed to increase the amount of equity investment available to SMEs in amounts up to £500,000 to SMEs that demonstrate growth potential. From a total fund size worth £250 million, £133 million has been invested in 356 companies. This includes a government commitment of nearly £75 million which has been fully drawn down.
The Department for Business, Innovation and Skills is currently undertaking an interim assessment of the performance of the RVCFs. This is due to report in autumn 2009.