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<p>This government is committed to supporting investment in small businesses. As my
right hon. Friend the Chancellor of the Exchequer set out in the Autumn Budget, we
will establish a new £2.5 billion Investment Fund incubated in the British Business
Bank. By co-investing with the private sector, a total of £7.5 billion of investment
will be supported. We will also invest in a series of private sector funds of funds
of scale, with up to £500m allocated to the first of potentially three investment
rounds. We are also extending the British Business Bank’s Enterprise Finance Guarantee
to March 2022 and expanding the programme to support up to £500 million of loans per
annum. These measures are in addition to the existing £3.7bn already allocated to
the British Business Bank. We are also significantly expanding the support that innovative
knowledge-intensive companies can receive through the Enterprise Investment Scheme
(EIS) and Venture Capital Trusts (VCTs).</p>
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