Europe halts funding for British technology firms


British start-up technology companies are being denied access to their single largest source of investment funding as European institutions begin to cut the UK out of future projects.

Venture capital funds say they have been told that the European Investment Fund (EIF) has now effectively turned off the tap to new British commitments.

Before the vote to leave the EU last year the fund indirectly invested more than half a billion pounds a year in Britain’s technology sector, its largest single source of money.

Source: The Times

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