UK gov announces ‘Future Fund’, pledging £250M funding for startups impacted by coronavirus

British govt unveiled “Future Fund” designed to ensure high-growth companies (startups) across the U.K., receive enough investment to remain viable during the coronavirus crisis. Initially it is pledging £250 million to the new fund, which looks to be in the form of a convertible loan note, businesses must secure an equal or greater amount of match funding from private investors & a U.K. registered private company that has previously raised at least £250,000 in private investment in the last 5 years. Govt will invest between £125,000 - £5mn in qualifying startups, rarly reports of the U.K. treasury’s plans stated that “the loans will convert to equity if not repaid,” leading some to believe that there would be an option to repay the loan instead of having it convert to equity during a company’s next funding round.

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