Corporate venturing funds find themselves inadvertently caught by the global tax and regulatory crackdown on financial services.

Corporate venturing funds might find themselves inadvertently caught by the global tax and regulatory crackdown on financial services.

In the UK, quietly, the outgoing Labour government at the end of March failed to renew the Corporate Venturing Scheme, which was set up to promote venture capital-style investments for companies.

The tax breaks offered upfront corporation tax relief (20% of the investment) and capital losses could be offset against trading income, but after 10 years the scheme has come…