An analysis of the investment characteristics and aggregate performance of the VC schemes under the management of Capital for Enterprise Limited (now part of British Business Bank).
The analysis shows:
– Since 2002, over 930 companies have received funding, receiving at least £520m.
– The geographic distribution of the investments largely follows the wider VC industry.
– A high proportion of investment goes towards companies in IT related sectors.
– CfEL funds provide equity finance at an earlier stage than the wider PE market.
Although it is too early to report final financial returns as the majority of funds have not fully closed, a number of funds have generated successful exits.