The measures included a new fund in the British Business Bank, seeded with £2.5 billion of public moneym, as well as facilitating pension fund access to long term investments and doubling EIS investment limits for knowledge intensive companies.
The move comes after the Government launched a consultation into patient capital, chaired by Wellcome Trust Governor Sir Damon Buffini.
Hammond also added that:
"We stand ready to step in to replace European Investment Fund lending if needed."