The British Business Bank, charged by the Government with administering the Future Fund, issued details of the scheme on Monday 18 May 2020. Applications, which open on Wednesday 20 May 2020, are to be made by the new “third party investors” (whose investment the Future Fund is designed to match) rather than the investee companies.
Eligible companies are required to appoint a solicitor to handle the process. Druces is ready to assist companies through this exercise, as well as advising potential investors on how to access the scheme.
We will be issuing more details about the scheme itself but for urgent advice in the meantime please speak to your usual Druces contact or:
- David Smith, Corporate Partner, on firstname.lastname@example.org or +44 (0)20 7216 5572