Venture Fund Needs Cash Injection

Tuesday 31st, May 2011 / 08:09 Published by

The Government-sponsored venture capital fund is set to request a further $2 million injection from the Ingraham administration to help fund another five-six ventures “in the pipeline”, its chairman telling Tribune Business there were no plans to “discontinue” public funding.

While concerns have been expressed in some quarters that there was no ‘line item’ in the 2010-2011 Budget specifying the annual $1 million injection that the Bahamas Entrepreneurial Venture Fund traditionally received from the Government, Michael Cunningham said this had been the practice “for the last two to three years”, the funds being bound up with other forms of small and medium-sized business assistance.

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