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UK Government Has Declared “Future Fund” Guaranteeing £250M Funding

Akansha Kesarwani by Akansha Kesarwani
April 29, 2020
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The Future Fund from the UK Government

Today, the British government has revealed a plan for new Future Fund, which is designed to make sure that the productive companies, and the startups throughout the United Kingdom will get sufficient investment, to stay viable during this COVID-19 in the UK. The government has made this decision after increasing pressure from the tech startups and firm debate.

Primarily, the government is guaranteeing an entire of £250 million of the taxpayer’s money to a new fund. To unlock the investment that looks to be in form of a transformable loan note, the businesses should make sure a greater or equal amount of match funding from private investors.

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The Plan

The “Future Fund” is attached to start from May and will notice the UK government invest between £125,000 and £5 million in preparing the startups. It also says that the scale of this fund will be kept under review by indicating more taxpayer money could be provided in future. The applications will primarily be opened until the end of September.

In the meantime, there is some confusion with regards to how the convertible loans of the plan will work. Early reports about the UK treasury’s plan mentioned that these loans would transform into equity if it is not repaid. Also, it will lead some to believe that there would be an opportunity to repay the loan rather than having it transform into equity.

However, some critics have pointed out that if direct repayment option really existed, the UK taxpayer would be revealed to every downside with little of the upside. The best performing firms would choose to repay the loan, while the worst ones would choose to transform into equity. Simply, a convertible loan note system, which automatically converts, is favourable as the UK govt. needs to hold discounted equity in the startups.

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Akansha Kesarwani

Akansha Kesarwani

Hey, I am Akansha, I am a Digital Marketer having more than 2 years of professional experience in the industry. Travel, Gaming, Blockchain & Cryptocurrency, Digital Marketing, Technology are some niches that I cover the most as a writer. Writing is my passion and when passion is taken as a career it gives you real peace of mind as its the best way to be sincere and give best to your profession.

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