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Treasury sets up fund to search for ‘unicorns’

Image: Pictures of Money [CC BY 2.0], via Flickr

The UK government is proposing a national investment fund to commercialise research and propel British start-ups to become unicorns, innovative companies valued at more than $1 billion (£756 million).

The entrepreneur-led fund would encourage investors to increase their investment in long-term capital to support company growth and R&D, the government said in a consultation document for the fund published on 1 August. It could also support the creation of university investment funds.

The size and structure of the fund would depend on whether UK businesses are able to retain access to the European Investment Fund after leaving the European Union, the government said in the document, entitled Financing Growth in Innovative Firms

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