This year’s Budget presented by UK Chancellor of the Exchequer George Osborne on Wednesday will likely focus on fostering growth and job creation, with early stage investment identified as a driver of both.

Venture capital sources are expecting provisions in the Budget that affect their sector, though little that would affect private equity. One said: "The stability of the taxation system is what concerns the big firms. But the private equity industry is hoping for business as usual following the Budget, providing the boat is not rocked - we certainly don't expect it to be."