3EN Ventures (3EN) is a new type of investment fund - the first ever to be set up and funded exclusively by a local authority - Basingstoke & Deane Borough Council (B&DBC).

This new fund - 3EN Ventures - will concentrate principally upon pre-revenue businesses, and offer risk capital investment of up to £75,000.

The fund will focus upon high tech businesses in the Basingstoke & Deane area within software, IT and IT services, telecoms, new media, and electronics.

Named after its goal of encouraging entrepreneurial enterprise, Basingstoke & Deane have appointed Innvotec Ltd to identify, make, and manage its investments.

Critically, 3EN has recruited a network of experienced business professionals to act as business mentors, who will in turn work closely with the management teams pre and post investment.

3EN will also provide a showcase for second-round financing through regular Enterprise Forums at which specific investments will present their business case to an invited audience of professional investors.