Full details will be published about Future Fund: Breakthrough by the British Business Bank
Official guidance
Purpose and form of funding
The scheme, with initial fund size of £375m, will support and accelerate the growth of R&D-intensive businesses.
The scheme will involve direct co-investment whereby the British Business Bank will take equity in larger funding rounds led by private investors.
How it works
The scheme will be delivered by the British Business Bank, via its commercial subsidiary British Patient Capital.
Application will be led by established venture capital investors.
Headline terms
Minimum investment round size of £20m.
Eligible companies
UK-based companies that:
- are focused on R&D (breakthrough technologies which can transform major industries, develop new medicines, and support the UK transition to a net zero economy)
- have significant UK operations
For companies that participated in the now-closed Future Fund, this will have no bearing on their eligibility for, or affect the likelihood of obtaining funding through Future Fund: Breakthrough
Other business finance support
- Recovery Loan Scheme (from 6 April 2021)
Additional information
- Find a chartered accountant
- Explore thebusinessfinanceguide.co.uk for funding options that may be appropriate for your business
- Access Creative Industries – Routes to Finance by ICAEW’s Corporate Finance Faculty