UK Government Launches Future Fund to Help Early-Stage Startups

The UK government has launched a £250 million Future Fund to help early-stage startups during the coronavirus (COVID-19) crisis. As expected, the Future Fund will be managed by the British Business Bank and will offer eligible startups between £125,000 and £5 million via convertible notes. These notes will be converted to shares on the startup’s next funding round. Also, private venture capitals are expected to match the remaining half of the funding. Applications for the fund will initially be open until the end of September.

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Source: https://techcrunch.com/2020/04/19/uk-gov-announces-future-fund/