The London Development Agency (LDA) is looking for a fund manager to run a £30m (€50.29m) venture capital fund.

The LDA, as part of a UK-wide initiative by the Government's development agencies, plans to establish a regional venture capital fund for London, with the support of assets from the Department of Trade and Industry enterprise fund. It is understood that the LDA will put in a request for around £8m to £9m of investments from the DTI.