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ARTICLE · 24 MARCH 2010

UKIIF Update

Speechly Bircham LLP
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We reported in our last edition of VC Inform on the appointment of Hermes Private Equity and the European Investment Fund as the fund of fund managers allocated funding by the UK Government as part of the UK Innovation Investment Fund (UKIIF).

United KingdomFinance and Banking
James Watts
James Watts

We reported in our last edition of VC Inform on the appointment of Hermes Private Equity and the European Investment Fund as the fund of fund managers allocated funding by the UK Government as part of the UK Innovation Investment Fund (UKIIF).

Launched on 29 June 2009, UKIIF is backed by a £150m investment by the Department for Business, Innovation and Skills, the Department of Energy and Climate Change and the Department of Health and has already attracted private investment to more than match this amount with the total first closing reaching £325m. The UKIIF funds will focus on investment in small businesses, start-ups and spin-outs (including those in pre-profit and pre-revenue stages of development) in the digital and life science, clean technology and advanced manufacturing sectors in the UK.

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