Full details will be published about Future Fund: Breakthrough by the British Business Bank
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.
Minimum investment round size of £20m.
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