The Future Fund will enable startups to access cash through a new convertible loan note program from the British Business Bank. The Government will match private investment on a 1:1 basis from a minimum of £125,000 to a maximum of £5 million.

You can find the details on the Future Fund for founders (here) and investors (here), and we have compiled answers to some of the most asked questions below.The fund will open on Wednesday 20th May and will initially stay open until the end of September 2020.

Is your startup eligible?

To be eligible for matched funding, your startup must meet the following eligibility criteria:

1. Raised at least £250,000 in equity from third-party investors in previous funding rounds in the last five years;
2. If the company is a member of a corporate group, it must be the ultimate parent company;
3. The company must be private and unlisted;
4. The company must be a UK incorporated limited company;
5. The company must have been incorporated on or before 31 December 2019; and at least one of the following must be true for the company:a. Half or more employees are UK based; andb. Half or more revenues are from UK sales.

You can read more on eligibility requirements here.