EIF limiting UK VC funding ahead of Brexit

The European Investment Fund (EIF) is already reducing funding for UK start-ups two years ahead of Brexit, reports the FT.

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The EIF provides two thirds of the total investment in UK-based VC funds.

The situation has got worse for UK VC funds since Article 50 was triggered, according to Michael Collins, CEO of Invest Europe.

The EIF is a subsidiary of the EIB but acts as a public-private partnership. Between 2011 and 2015 the EIF invested $2.3 billion in 144 UK-based VC funds.

The UK government says it will put £400 million into the British Business Bank which provides funds to UK VC funds,


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