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Venture capitalists call for government help to finance start-ups
Venture Capitalists (VC) are pressing the government to finance a £1bn fund, as they warn that the lack of available capital in the economy is meaning that they are struggling to finance new start-ups.
A recent survey of VC firms revealed that over 30% expect to write-off at least three investments this year due to lack of available credit and that 86% are finding it difficult to raise secondary rounds of finance for their companies.
"Starved of capital, companies will go to the wall or they will be forced to cut back too far, reducing jobs and losing competitiveness," said Richard Anton from Amadeus Capital.
"This question is of great importance to the UK, are these are fast-growing companies that will create jobs," added Mr Anton.
Post Date: February 12th, 2009
A recent survey of VC firms revealed that over 30% expect to write-off at least three investments this year due to lack of available credit and that 86% are finding it difficult to raise secondary rounds of finance for their companies.
"Starved of capital, companies will go to the wall or they will be forced to cut back too far, reducing jobs and losing competitiveness," said Richard Anton from Amadeus Capital.
"This question is of great importance to the UK, are these are fast-growing companies that will create jobs," added Mr Anton.
Post Date: February 12th, 2009
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