The extra money was pledged to the fund in the Autumn Statement last year, in addition to the £2.4 billion already pledged and aims to offer growing businesses and enterprising projects a minimum cash injection of £1 million.
The Government believes the RGF has already helped 180 projects get started, creating and safeguarding local jobs and attracting significant private sector investment.
The RGF is a £2.6 billion fund operating across England from 2011 to 2016. It supports projects and programmes that lever private sector investment to create economic growth and sustainable employment.
The Government has stated that the first three rounds will leverage over £13 billion of private sector investment and create or safeguard over 500,000 jobs.
Statistics from the Department of Business, Innovation & Skills (BIS) reveals that the first three rounds of the fund have pledged to create or safeguard some 500,000 jobs along with an injection of £13 billion private sector cash.
Clegg said: "The Regional Growth Fund is already proving a shrewd investment by providing a welcome boost to jobs and growth across the country, with thousands of jobs created, businesses expanding into new markets and manufacturing new products."
Business minister, Michael Fallon, said: "The Regional Growth Fund is playing a pivotal role in supporting business and enterprise. Jobs are being created, money is being invested and the fund is making a difference.
"This additional round and the improved processes we have put in place will help keep the momentum going."
