Venture capital firm plans new round


British Smaller Technology Companies, the venture capital company advised by Scientific Generics, says it will launch a new round of fundraising this autumn to meet strong demand for finance from firms with high growth potential.

The company has already raised close on 7 million, it reports in its interim statement for the six months ended June 30.

BSTC's investment adviser, Yorkshire Fund Managers say demand remains steady from investors wanting to buy shares in venture capital companies.

Sir Andrew Hugh Smith, BSTC chairman, said: 'Current market sentiment towards technology based companies enables us to invest at valuations well below those which were being asked 12 months ago.'

The company made a loss of 38,000 on the six months.