British Business Bank Posts Updated of Equity Stakes in Future Fund Backed Firms

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
Sponsored
Sponsored Links by DQ Promote

 

 

Send this to a friend