Summary
A SCATHING report on Government efforts to direct money to young companies has found that in one set of funds GBP74m of state investments are now worth just GBP5.9m, while the fund managers have pocketed GBP46.1m.
A report from the National Audit Office to be published today found that state-backed UK High Technology funds have produced an average return of -9.7per cent, its nine regional venture capital funds for England were down 15.7per cent while its Community Development Venture (Bridges) funds have made a positive return of 7.7per cent.See the full content of this document
Extract
Gbp74m Put Into Young Companies Now Worth Just Gbp5.9m
This means that the GBP74m invested in the regiona...
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