The British Business Bank has posted an updated list that includes new companies backed by the Future Fund, one of several schemes enacted to provide assistance to firms harmed by the COVID-19 health crisis. Created in 2014, The British Business Bank is the UK government’s economic development bank.
The Future Fund is a program designed by the UK government to backstop early-stage ventures impacted by COVID-19 in need of capital to sustain operations. The policy was created in recognition of the fact that many young firms do not generate a profit and thus cannot be self-financing. The alternative was deemed to be the loss of many innovative startups that otherwise would have been able to raise venture funding if the pandemic had not occurred. Some individuals questioned the use of government money in backing risky ventures that historically hold a high rate of failure. Investment crowdfunding platforms participated in the program that required matched private funding to gain government money with offering pages highlighting the participation in the Future Fund.
The capital came via a convertible investment with the expectation that many firms would eventually convert to equity, making the UK government shareholders in the ventures.. The program launched in May of 2022 and continued until January 2021.
The British Business Bank has added 67 companies to its list, with the total now standing at 464 firms. The British Business Bank reports that more than 1/3 of the companies have now converted to equity.
The Future Fund issued 1,190 companies with convertible loans totaling £1.14 billion.
Ken Cooper, Managing Director, Venture Solutions, British Business Bank, issued a statement on the update:
“The Future Fund was created to ensure a flow of capital, at the height of the pandemic, to companies that would otherwise have been unable to access government support schemes, while ensuring long-term value for the UK taxpayer. We are pleased to see so many of those companies now going on to raise further private sector capital, which will allow the Future Fund to benefit from their continued growth.”
The list of the new companies is available below.
| Company | Region |
| Apperio Limited | London |
| Apps2Data (Holdings) Limited | Scotland |
| Artisan Coffee Co Limited | South East |
| ARX Alliance Limited | London |
| Assetz Capital Limited | North West |
| Auddy Limited | London |
| Automated Intelligence Limited | Northern Ireland |
| Avado Group Limited | Channel Islands |
| Azadyne Ltd | London |
| Blackbullion Ltd | London |
| Bonas Snacks Limited | London |
| Carbon Air Limited | North West |
| Chargifi Limited | South East |
| Cheerfy Ltd | South East |
| Commodities Ai Ltd | London |
| Cydar Limited | East of England |
| Deontics Limited | London |
| Ducentis Biotherapeutics LTD. | South East |
| Eartex Ltd | London |
| Gravity Co-Living Limited | London |
| Green Nation Systems Limited | London |
| Gymfinity Kids Limited | Yorkshire and The Humber |
| Hey Habito Ltd | South East |
| Hoxton Analytics Limited | London |
| Iamyiam Limited | London |
| Impression Technologies Limited | West Midlands |
| Intechnica Holdings Limited | North West |
| Jiminny Holdings Limited | London |
| King of Games Limited | North West |
| Krowd Limited | London |
| L’Estrange London Limited | London |
| Liberty Brewing Limited | West Midlands |
| Lightful LTD. | London |
| Market Earlybird Ltd | London |
| Mirico LTD. | South East |
| Mnai Data Solutions Limited | South East |
| Modulous Limited | London |
| My Personal Therapeutics Ltd | London |
| Myonlineschool Ltd | South East |
| Nanusens Limited | South West |
| Netacea Limited | North West |
| Neurofenix Limited | West Midlands |
| Nineteen21 Limited | London |
| Novocomms Limited | West Midlands |
| Optellum Ltd | South East |
| Orka Technology Group Ltd | North West |
| Orri Ltd | London |
| PBD Biotech Limited | East Midlands |
| Plyable Ltd | South East |
| Profinda Limited | London |
| Rainbird Technologies Ltd | East of England |
| Rockabox Media Ltd | London |
| Second Home Ltd | London |
| Seedrs Limited | London |
| Shortbite Ltd | North West |
| Ski-Lifts Ltd | North West |
| Small Robot Company Limited | South West |
| Smartology Limited | London |
| Sofant Technologies Ltd | Scotland |
| Spacious Ltd | East of England |
| Taptripco Limited | North West |
| The Smart Request Company Ltd | South East |
| Thr Venture Ltd | South East |
| Undo Limited | East of England |
| X R Games Limited | Yorkshire and The Humber |
| Zerolight Limited | North East |
| Zoom Abroad Online Limited | London |