Business News of Wednesday, 30 May 2012

Source: myjoyonline

Venture Capital Trust to increase fund size

The Venture Capital Trust Fund is working to increase its fund size to 250 million dollars by August this year.

This was after the fund secured a 150 million dollar facility from the China Exim bank last week. The facility is expected to help the Trust promote private equity funding in the country.

Government, which is the majority shareholder in the fund, however has to provide the necessary guarantee before the funds come in.

Chief Executive of the Venture Capital, Daniel Doku told JOYBUSINESS this will help improve its dealings with small businesses.

The Venture Capital Trust currently has a fund size of 100 million dollars.