British Country Inns, an EIS-funded pub company established by entrepreneurs Peter Matthews and Tim Udell, is to launch a second fund to fuel further expansion. The company, which operates four managed pubs and has a further four sites under offer, has launched British Country Inns II. Sponsored by Smith & Williamson Investment, the company aims to raise £8m by October. The first EIS (Enterprise Investment Scheme) subscription, conducted earlier this year, raised £7.5m. Anthony Miller, chairman, said: We are delighted with the progress we have made. All houses are now making a contribution, our planned investments are underway and we should be fully invested by the end of October.”