Big UK venture capital funds pledge to invest in high growth companies

Kate Bingham, who runs SV Health Investors, one of the signatories of the scheme. Photograph: David Levenson/Getty Images

A group of leading UK venture capital funds managing more than £25bn have signed an agreement backed by the chancellor, Jeremy Hunt, to boost investment in high growth companies across the country.

In a government drive to drum up private investment in Britain before the chancellor’s autumn statement, Hunt said the scheme involving 20 of the UK’s largest funds was a “huge win” for the country.