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The worst VC in the world

The reputation of private sector venture capital may be at a low ebb, but there is one consolation for the industry. Few VC investors will have fared as poorly as the UK government.

The Treasury has invested £338 million in VC-style funds since 2000, from regional venture capital funds (RVCFs), launched in the early years of this decade, to the Capital for Enterprise fund, established this year.

Despite their good intentions, the financial returns of some of these funds make a flutter on US subprime mortgage debt or the Icelandic banking sector look positively attractive.

A report... read more...

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