The British Business Bank has published a list of 158 companies in which it holds equity following the Future Fund COVID support program.
The Future Fund was established to backstop UK early-stage ventures that did not qualify for other COVID relief programs. The Future Fund was a convertible investment scheme with the expectation that the majority of firms would eventually convert the debt into equity making the UK government a de facto investor in these young companies. The convertible loans were designed to convert into equity at the next equity funding round, converting at a discount to the price per share agreed between companies and investors in the funding round.
Third-party investors were required to at least match the Future Fund’s investment and a good number of issuers raised capital on investment crowdfunding platforms.
The mission was to support innovative young firms that frequently do not generate a positive net income yet need growth capital. Launched on May 20, 2020, and available until January 31, 2021, the Future Fund issued 1,190 Convertible Loan Agreements worth £1.14 billion, according to the bank.
As of August 31, 2021, 158 convertible loans had converted into equity shares, meaning the companies had raised further private sector capital through an equity funding round.
Ken Cooper, Managing Director, Venture Solutions, British Business Bank commented on the news:
“The Future Fund was created to increase the flow of capital to innovative companies at the height of the pandemic, while ensuring long-term value for the UK taxpayer. We’re delighted to see so many companies already going on to raise further private sector capital. As a shareholder in so many promising businesses, the Future Fund is well positioned to support, and benefit from their continued growth.”
The British Business Bank said that it will update the list of companies in which Future Fund has a shareholding at the end of every financial quarter. The current list is available below but does not include the value of the investment or percentage of ownership.
| Company | Location |
| 1854 Media Limited | East of England |
| 3Radical Limited | South West |
| Additive Manufacturing Technologies Ltd | Yorkshire and the Humber |
| Aeristech Limited | West Midlands |
| Ai Exchange Ltd | London |
| Airfinity Limited | London |
| Altitude Angel Ltd | South East |
| Arc Group Global Ltd | London |
| Arksen Limited | South East |
| Balre Technologies Ltd | London |
| Beamery Inc | London |
| Better Tasting Drinks Co. Limited | East Midlands |
| Bivictrix Therapeutics Limited | Wales |
| Blu Wireless Technology Limited | South West |
| Bockatech Ltd | East of England |
| Boxwize Ltd | London |
| Ceed Ltd | London |
| Century-Tech Limited | London |
| Cervest Limited | London |
| Cherryz Ltd | London |
| Chip Financial Ltd | London |
| Cipher Surgical Limited | Scotland |
| Cirdan Imaging Limited | Northern Ireland |
| Cloud 8 Limited | South West |
| Clyz Labs Limited | North West |
| Cognitive Credit Limited | London |
| Concured Limited | London |
| Content Calendr Limited | London |
| Corrosion Radar Limited | South East |
| Counting Ltd | London |
| Credit Laser Holdings Limited | London |
| Crikle Business Platforms Limited | London |
| Dice FM Ltd | London |
| Digital Home Visits Ltd | London |
| Digital Reality Corp Ltd | London |
| Dragonfly Biosciences Limited | London |
| DueDil Limited | London |
| Edge Petrol Limited | London |
| Elite Crowdfunding Limited | London |
| Engage Technology Partners Limited | South East |
| Executives Place Limited | London |
| Fairscore Ltd | London |
| Footballnet (Global) Limited | London |
| Funderbeam LTD. | London |
| Gearbox Records Ltd | London |
| Gelmetix Limited | North West |
| Gendius Limited | North West |
| Global Property Ventures Limited | East of England |
| Gobsmack Holdings Limited | East of England |
| Gunna Drinks Limited | South East |
| Gyrogear Limited | South East |
| Helio Display Materials Limited | London |
| Hydro Industries Limited | London |
| Imagine Mortgages Limited | London |
| Infinitesima Limited | South East |
| Inotec Amd Limited | East of England |
| Invest and Fund Limited | South East |
| Jacuna Ltd | London |
| JAJA Finance Holding (UK) Limited | London |
| Juggle JOBS Ltd | South East |
| Juno Legal Holdings Limited | London |
| Kano Computing Limited | London |
| Karus Therapeutics Limited | South East |
| Kets Quantum Security Ltd | South West |
| Kroo Ltd | London |
| Leucid Bio Ltd | East of England |
| LGN Innovations Limited | Wales |
| Life In The Cocoon Limited | London |
| Locate Bio Limited | East Midlands |
| Lovecrafts Group Limited | London |
| Maxwellia Ltd | North West |
| Medherant Limited | West Midlands |
| Mindtech Global Limited | Yorkshire and the Humber |
| Mindtrace Limited | North West |
| Misfits Health Ltd | London |
| Molo Tech Ltd | London |
| Mom Incubators LTD. | East Midlands |
| Monese Ltd | London |
| Monolith Ai Limited | London |
| Motorway Online Ltd | London |
| Mysense Group Ltd | London |
| Nell Health Ltd | London |
| Nerre Therapeutics Holdings Limited | East of England |
| Nova Pangaea (Holdings) Ltd | North East |
| Novatiq Limited | East of England |
| Occuity Ltd | West Midlands |
| Odondo Limited | London |
| Oneskee Limited | East Midlands |
| Online Giving Ltd | London |
| Origami Energy Limited | East of England |
| Oto International Limited | London |
| Oxular Limited | South East |
| Passfort Limited | London |
| Pay Later Group Limited | London |
| Penfold Technology Ltd | London |
| Peratech Holdco Ltd | North East |
| Perceptual Robotics Limited | South West |
| Phaim Pharma Ltd | London |
| Phoenix Product Development Limited | London |
| Plu&M Limited | London |
| Pollen + Grace Limited | London |
| Power Roll Limited | North East |
| Prodigy Investments Limited | London |
| Project Imagine Ltd | London |
| Prokarium Holdings Ltd | London |
| Proportunity Ltd | London |
| Pulsiv Solar Limited | East of England |
| Pycom Ltd | South East |
| Quanta Dialysis Technologies Limited | West Midlands |
| Raffolux Ltd | East of England |
| Reactive Technologies Limited | South East |
| Real VR Limited | London |
| Reallyenglish.Com Limited | London |
| Rente Limited | West Midlands |
| Rezolve Limited | London |
| Ripple Energy Limited | London |
| Riversimple Holding Limited | Wales |
| Rlt International Limited | South East |
| Robin Ai Limited | London |
| Scoodle Ltd | London |
| Secret Group Limited | London |
| Secret Spa (London) Ltd | London |
| Shieldpay Ltd | North West |
| Signal Media Limited | London |
| Sine Wave Entertainment Limited | London |
| Skinny Tonic Limited | North West |
| Smart Pension Limited | London |
| Sort Holdings Ltd | London |
| Spill App Ltd | London |
| Sport Maison Limited | London |
| Spring Financial Group Limited | South East |
| Spybiotech Limited | South East |
| Startpulsing Limited | London |
| Synapse Information Limited | West Midlands |
| The London Interdisciplinary School Ltd | London |
| The Shackleton Design and Manufacturing Company Ltd |
East of England |
| Theolytics Ltd | South East |
| Tickr Ltd | London |
| Tifosy Limited | London |
| Ultraleap Holdings Limited | South West |
| Underpinned Ltd | London |
| Unwasted Limited | London |
| Usnoop Limited | London |
| Vaccitech Limited | South East |
| Vaix Limited | London |
| Volt Technologies Ltd | London |
| Voxpopme Limited | West Midlands |
| Warwick Acoustics Limited | West Midlands |
| Watkins Drinks Limited | East Midlands |
| Wildanet Limited | South West |
| Yanchep Holdings Limited | London |
| Yellow Line Parking Ltd | London |
| Yordex Ltd | London |
| Yuchelka Ltd | London |
| Zeelo Limited | London |
| Zelp Ltd | London |
| zero carbon food ltd | London |
| ZOKU Ltd | West Midlands |