Enterprise Capital Fund sets aside £40m to back science, technology and engineering-based businesses

Fast growth small and medium-sized businesses to receive slice of £200m Enterprise Capital Fund budget

Business minister Michael Fallon has announced the allocation of £40m to invest in small and medium enterprises in the science, technology and engineering sector. The funding comes as part of the Enterprise Capital Fund (ECF) and comprises £25m of government investment and £15m from private investors. Launched in 2006, the £200m ECF has since been allocated into 12 separate funds, including the Catapult Growth Fund and Dawn Capital ECF, supporting more than 140 companies in total. The latest fund, named Longwall Ventures ECF will support science, technology and engineering-based small and medium enterprises in funding rounds worth up to £2m. Announcing the fund distribution at Seed Enterprise Investment Scheme (SEIS) briefing Investing for Success, Fallon commented: “We are determined to make the UK the best place in Europe to start, finance and grow a business. “Helping entrepreneurs to access a diverse range of finance options is vital. “The new £40 million Enterprise Capital Fund will address a gap in the market and help our small businesses find the finance they need to realise their potential.”

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