The Government’s new Future Fund is now open for applications. Announced by the Chancellor on the 20th April, the Future Fund issues convertible loans to innovative UK companies with growth potential that are currently affected by Covid-19.
To be eligible, a company must find a lead investor and the Future Fund will match up to 100% of the lead investor’s contribution.
The FSE Group, as manager of the £40m Cornwall & Isles of Scilly Investment Fund (“CIOSIF”), can provide lead investor funding from £50k – £2m to Cornish businesses. With the addition of the new Future Fund alongside other matched funding, there is the potential to double the investment and provide all the capital to meet companies’ growth aspirations.
Ralph Singleton, Head of Funds, Cornwall at The FSE Group said: “The announcement of Rishi Sunak’s Future Fund is great news for the local economy as it will allow us to deliver even more investment into Cornish businesses at a difficult time. As well as this extra financial investment, we continue to provide our ongoing expert support to help our investee companies realise their growth ambitions. We encourage any interested businesses to contact us to discuss this exciting opportunity further”
For further information please contact Brent Treloar – Business Development Manager at The FSE Group – 01872 306663 / firstname.lastname@example.org