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A GOVERNMENT-BACKED fund of at least £1bn is needed to provide finance for growth- focused SMEs, according to one of the UK’s leading venture capital figures.

Cardiff-born Chris Rowlands is completing a review for Business Secretary Lord Mandelson on the availability of growth finance for SMEs in the £2m to £10m bracket – and on whether intervention is required to plug market failure.


Venture capital expert Rowlands says SMEs need £1bn fund