Barclays intends to invest millions of pounds in 10 venture capital funds in Objective Two areas.
The Objective Two funds, worth between £15m and £50m each will be run by the regional development agencies (RDAs). The money will be lent on a commercial basis although some will be in the form of equity.
The bank earlier this year set up the Urban & Regional Economic Development Unit with a minimum of £200m. It also pledged £66m towards nine funds run by the RDAs and the Department of Trade & Industry.
An additional £84m has gone towards four venture capital funds in Objective One areas of Cornwall, Merseyside, south Yorkshire and west Wales.
Financial Times 21/11/2001 page 7
