Matrix Private Equity, a UK venture capital specialist, has launched its second enterprise fund aimed at wealthy investors looking for a tax shelter, despite a disappointing response to the first one.

Matrix hopes to raise £2m (€3m) from high net worth individuals and trustees advised by solicitors, accountants and financial advisors, who can get income tax relief and defer payment on capital gains tax on investments in unquoted companies under the Enterprise Investment Scheme (EIS), introduced by the UK Treasury two years ago.