The government is investing £200m in digital and advanced manufacturing businesses as part of a drive to boost skilled jobs in the UK.
The government pledged £100m, and this was matched by another £100m raised by the European Investment Fund. The money will be invested in technology-based businesses "where there are significant growth opportunities".
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The move follows the announcement of a £125m investment in the low carbon and clean technology sectors last month.
Prime Minister Gordon Brown said the emphasis is on creating high-skilled jobs. He said at the Global Investment Conference, "This fund shows our commitment to the industries and the technologies that will create the skilled jobs of the future.
"The fund, seeded by the government, is bringing private venture capital to growing enterprises. It is already providing £125m of funding to high-tech, low-carbon businesses. From today, a further £200m will be available for life sciences, digital and advanced manufacturing."