Baronsmead Second Venture Trust plc announced that Livingbridge VC LLP (Livingbridge) has announced the sale of its fund and investment management business, including its Baronsmead VCT business, to a subsidiary of Gresham House plc ("Gresham House"). Anthony Townsend, Chairman Of the company, is also Non-Executive Chairman of Gresham House. Accordingly, he will be stepping down as Chairman of the company, but will remain as a non-executive director, following completion of the sale.