The Future Fund launched on 20 May 2020 to support innovative UK companies that typically rely on equity investment to fund their growth.

1,190 companies received investment from the Future Fund totaling £1.14 billion from launch through to 31 January 2021. Such investments were in the form of financial instruments known as convertible loans. 

The British Business Bank has now announced that, as at 31 August 2021, 158 of these loans have converted into equity shares, meaning that over 10% of Future Fund companies have already successfully reached their next equity funding round. Of those 158, 7 of the businesses are located in the South West:

3Radical Limited

Blu Wireless Technology Limited

Cloud 8 Limited

Kets Quantum Security Ltd

Perceptual Robotics Limited

Ultraleap Holdings Limited

Wildanet Limited

Find the British Business Bank press release here