Barclays is expected to announce within a fortnight that it will provide about £80m of venture capital funds to match a European cash pool available for the UKs Objective One areas.
Barclays’ investment will enable European cash to be drawn down to set up funds for up to £195m in Wales, Cornwall, South Yorkshire and Merseyside.
Small and medium-sized businesses will be targeted. Objective One funds are unlikely to be up and running before Christmas. Merseyside is expected to have the largest fund and Cornwall the smallest.
Financial Times 22/06/01 page 5
