Venture Capital Trust to fund start ups

Start ups will from next month have ready capital available from affluent individuals if they are willing to cede part of their enterprise.

Such entrepreneurs should be able to access the one million dollar from the Angel Investors Fund, an initiative by the Venture capital Trust Fund.

The new facility will also provide technical assistance to such startups.

Managers of the fund have settled on 15 investors made of renowned business owners to support these start-ups and small businesses when the fund takes off.

Chief Executive of the Venture Capital Trust Fund, Daniel Doku said after the Angels choose the projects they want to fund, Venture Capital fund will also provide marching fund for the project to begin.

He said the initiative is set to begin in the second quarter next year.

He said the prospective projects cut across all the service industries.