16% of North West Fund sent back to Europe
1st November 2012
THE North West Fund has lost a further £15m for investing too slowly, taking its total to £155m - down from £185m at its launch.The cash has been trimmed from the £45m Development Capital sub fund which must invest sums of £100,000 to £2m in growth companies by 2015. It is understood only £5m has been invested since December 2010.It has been returned to the fund's backers - the European Investment Bank and the European Regional Development Fund.Some £15m was sent back to Europe in Sep......for the full story register now for free or login below...
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