British Business Bank publishes updated list of 400 companies in which the Future Fund has an equity stake

Press release 04 August 2022

Today the British Business Bank publishes a list of 65 additional companies in which the Future Fund holds an equity stake, taking the total to 400 as at 30 June 2022, meaning a third of companies have now converted to equity.3

Launched on 20 May 2020, and open for applications until 31 January 2021, the Future Fund issued 1,190 companies with Convertible Loan Agreements worth £1.14 billion in total. Third-party investors were required to at least match the Future Fund’s investment.

Companies in which Future Fund is now a shareholder include Impact Recycling which has developed a breakthrough plastic recycling technology which separates post-consumer mixed rigid plastic waste, and LettUs Grow, an aeroponics company that enables plants to go twice as fast as hydroponics using less water, fertiliser and no pesticides.

The Future Fund supported UK companies that typically rely on equity investment to fund their growth. By creating a bridge to the next equity funding round, the Future Fund supported these companies through a period of considerable economic disruption and now the recovery.

  • 3

    This includes loans converted to equity as well as where the Future Fund has exited a company for shares in another entity.

The Future Fund was created to ensure a flow of capital, at the height of the pandemic, to companies that would otherwise have been unable to access government support schemes, while ensuring long-term value for the UK taxpayer. We are pleased to see so many of those companies now going on to raise further private sector capital, which will allow the Future Fund to benefit from their continued growth. Ken Cooper Managing Director, Venture Solutions, British Business Bank

As at 30 June 2022, there were 400 convertible loans that converted into equity shares and in respect of which the Future Fund continues to hold an equity interest.

Breakdown of total book

Convertible loans


Equity investments where Future Fund retains an equity interest


Fully exited


Administrations (still in loan status)




Reconciliation since last quarterly update

Previous published conversions




New Conversions




The scheme used a recognised financial instrument known as a convertible loan. Unlike an equity investment, there wasn’t a requirement under the convertible loan to value the company or the price of its shares, at a time when company valuations had been significantly impacted by Covid-19. Instead, the convertible loans are designed to convert into equity at the next equity funding round, converting at a discount to the price per share agreed between companies and investors in the funding round.

The British Business Bank will update the list of companies in which Future Fund has a shareholding at the end of each financial quarter – the full list is available here

Further information on the Future Fund is available here.

On 6 July 2021 the British Business Bank published data giving a final, comprehensive picture of how the Future Fund has supported businesses during the pandemic.


Additional 65 companies in which the Future Fund has an equity interest as at 30 June 2022:

Company Region
10Th Man Media Limited London
365 Business Finance Limited London
3Radical Limited South West
Adaptai Ltd South West
Additive Manufacturing Technologies Ltd Yorkshire and the Humber
Advanced Digital Innovation (UK) Limited Yorkshire and the Humber
Aeristech Limited West Midlands
Airfinity Limited London
Airpos Limited Northern Ireland
Al Exchange Ltd London
Alloyed Limited** South East
Alquity UK Limited London
Altitude Angel Ltd South East
Alusid Limited North West
Animal Dynamics Limited South East
Anthropos Digital Care Limited London
Aqdot Limited East of England
Arc Group Global Ltd London
Arjun Technology Ventures LTD. East of England
Arksen Limited South East
Arlington London Limited London
Arqit Quantum Inc* Scotland
Arquella Ltd Yorkshire and the Humber
Arquer Diagnostics Limited North East
Artesian Solutions Limited* South East
Artificial Labs Ltd London
Atelier Technology Limited London
Automata Technologies Limited London
Avida Global Limited South East
Axial Medical Printing Limited Northern Ireland
Balre Technologies Ltd London
Batfast Cricket Centres Limited East Midlands
BC Englishscore Limited London
Beamery Inc London
Beautystack Limited North West
Betconnect Ltd South East
Better All Round Ltd East Midlands
Better Tasting Drinks Co. Limited East Midlands
Bibimoney Global Limited London
Big Wave Brands Ltd London
BiVictriX Therapeutics PLC* North West
Blok London Limited London
Blu Wireless Technology Limited South West
Bockatech Ltd East of England
Boiler Plan (UK) Limited North East
Bomad Investments Limited London
Borrow A Boat Ltd East of England
Bowman Power Group Limited South East
Boxwize Ltd London
Breedr Limited South East
Brilliant Planet Limited** London
Bud Financial Limited London
Bulbshare Limited London
Bumper International Limited** London
Buyapowa Limited London
BUZZ Bikes Limited London
Calon Cardio-Technology Ltd Wales
Cambridge Communication Systems Limited East of England
CanCertain Limited** North West
Capitalise.Com Platform Ltd London
Carousel Ventures Limited London
Ceed Ltd London
Cellpoint Digital Holdings Limited** London
Censornet Limited South East
Century-Tech Limited London
Certino Limited South West
Cervest Limited London
Chain Biotechnology Limited South East
Cherryz Ltd London
Chip Financial Ltd London
Cipher Surgical Limited Scotland
CIRCA5000 LTD** London
Circtec Ltd** London
Cirdan Imaging Limited Northern Ireland
Citizen UK Holding Ltd London
City Falcon Limited London
Clim8 Invest Ltd London
Closed Loop Medicine Ltd East of England
Cloud 8 Limited South West
Cloudnc Ltd London
Coadjute Limited London
Cognitive Credit Limited London
Coinvestor Limited South East
Colorifix Limited East of England
Concured Limited London
Conilon Ltd London
Corrosion Radar Limited South East
Counting Ltd London
Covatic Ltd West Midlands
Credit Laser Holdings Limited London
Crikle Business Platforms Limited London
Cultureai Ltd North West
Cytox Limited North West
Delio Ltd Wales
Dice FM Ltd London
Digimarc Corporation* Other
Digital Home Visits Ltd West Midlands
Digital Reality Corp Ltd London
Directed Systems Limited East of England
Diversified Real Estate Asset Management Ltd London
Dr Canary Limited East of England
Dynamis Associates Ltd North West
E-Bate Limited East Midlands
Econic Technologies Ltd North West
Edge Petrol Limited London
Edge Retreats Limited London
Edify Global Holding** Other
Effective Investing Limited South East
Elasticstage Ltd London
Elite Capital And Management Services Limited** London
Emission Solutions Limited London
Emoneyhub Limited North West
Engage Technology Partners Limited South East
Enternships Limited London
Eosemi Limited Yorkshire and the Humber
Epsilogen Ltd London
Essentia Analytics LTD. London
Ethical Angel Limited London
Evendo Ltd London
Executives Place Limited London
Facegym Holdings Ltd London
Fairscore Ltd London
Fantasy Sports Interactive Limited London
FanTracks Digital LLC* Other
Finexos Group Holdings Limited West Midlands
Floodflash Limited London
Flower of Life Ltd Yorkshire and the Humber
Fluidic Analytics Limited East of England
Food Freshness Technology Holdings Limited West Midlands
Football Ventures (Whites) Limited North West
Footballnet (Global) Limited London
Friendly Score UK Ltd London
Funderbeam LTD. London
Gearbox Records Ltd London
Gelmetix Limited North West
Gendius Limited North West
Glint Pay Ltd London
Global Home Technology Ltd East of England
Global Property Ventures Limited East of England
Gobsmack Holdings Limited East of England
Grass & Co Limited East Midlands
Gravicus Technologies Limited London
Green Running Limited South West
Greenback Recycling Technologies Limited London
GSPV Limited London
Gunna Drinks Limited South East
Gyrogear Limited South East
Hadean Supercomputing Ltd London
Happy Drinks Co Limited** North West
Haystack App Limited North East
Hazy Limited South East
Helio Display Materials Limited Yorkshire and the Humber
Hexigone Inhibitors Limited Wales
Hivehr Limited North East
Homelink Healthcare Limited South East
Home-Made UK Properties Limited London
Hostology Limited London
HUGHUB Limited London
Hullabalook Ltd London
Hybrid Air Vehicles Limited South East
Hydro Industries Limited London
Hyperjar Limited London
Ieso Digital Health Limited East of England
Imagine Mortgages Limited London
Impact Recycling Limited Scotland
Inclusive Finance Limited London
Infabode Ltd London
Infinitesima Limited South East
Innovate Energy Solutions LTD. London
Innovation World Limited South East
Inotec Amd Limited East of England
Inova Design Solutions Ltd London
Insly Ltd London
Intechnica Group Limited North West
Invest and Fund Limited South East
Invma Limited Yorkshire and the Humber
Isotropic Systems Ltd South East
Jacuna Ltd London
JAJA Finance Holding (UK) Limited London
Juggle JOBS Ltd South East
Juno Legal Holdings Limited London
Justwontdie Ltd East of England
Kano Computing Limited London
Karamu Limited London
Karus Therapeutics Limited South East
Kelda Showers Limited South East
Kets Quantum Security Ltd South West
Killing Kittens Limited London
Kiteedge Ltd East of England
Knoma Ltd London
Koodoo Financial Limited London
Kroo Ltd London
Kudos Innovations Limited London
Kynd Limited London
Lantum Ltd London
Lettus Grow Ltd South West
Leucid Bio Ltd East of England
LGN Innovations, Inc Wales
Libertine Holdings PLC* Yorkshire and the Humber
Libryo Ltd South East
Life In The Cocoon Limited London
Lightpoint Medical Ltd South East
Locate Bio Limited East Midlands
Lovecrafts Group Limited London
Masabi Group Limited London
Maxwellia Ltd North West
Measure Protocol Limited London
Medherant Limited West Midlands
Microbiotica Limited East of England
Micropore Technologies Ltd North East
Mindtech Global Limited Yorkshire and the Humber
Mindtrace Limited North West
Minibems Limited South West
Mirada Medical Limited South East
Misfits Health Ltd London
Modern Contradiction Limited London
Molo Tech Ltd London
Mom Incubators Ltd East Midlands
Momentum Bioscience Limited Wales
Monese Ltd London
Monolith Ai Limited London
Motorway Online Ltd London
Multiply Ai Limited London
Muoverti Limited London
Muso Tnt Limited London
MYFIX Apps Limited South West
MyHealthChecked PLC* Wales
Mysense Group Ltd London
MyWorld Inc. ** Other
NBC Property Master Limited West Midlands
Ndreams Limited South East
Nerre Therapeutics Holdings Limited East of England
Nimble Babies Limited London
Nova Pangaea (Holdings) Ltd North East
Novatiq Limited East of England
Nuclera Nucleics Ltd East of England
Nude Finance Holdings Limited London
Occuity Ltd London
Ocutec Limited Scotland
Odondo Limited London
ODQA Renewable Energy Technologies Limited London
Omlis Limited London
Oneskee Limited East Midlands
Online Giving Ltd London
Onto Holdings Limited** West Midlands
Organox Limited South East
Origami Energy Limited East of England
Oto International Limited London
Oxford Quantum Circuits Limited London
Oxular Limited South East
Papercup Technologies Limited London
Pay Later Group Limited London
Paythru Limited London
Peacock Technology Limited** Scotland
Penfold Technology Ltd London
Peratech Holdco Ltd North East
Perceptual Robotics Limited South West
Perenna Group Limited London
Phaim Pharma Ltd London
Phoenix Product Development Limited London
Pimberly Limited North West
PIPE Technologies Inc* Other
Planks Clothing Ltd North West
Playworks Digital Ltd South East
Plu&M Limited London
Plum Fintech Limited London
Pockit Limited Wales
Pollen + Grace Limited London
Poq Studio LTD. London
Power Roll Limited North East
Pragmatic Semiconductor LIMITED** North East
Previse Limited London
Prodigy Investments Limited London
Project Imagine Ltd London
Prokarium Holdings Ltd London
Proportunity Ltd London
Proximity Insight Holdings Limited London
Pulsiv Limited** East of England
Punchy Drinks Limited South East
Pycom Ltd South East
Qio Technologies Ltd London
Quality Clouds Ltd London
Quanta Dialysis Technologies Limited West Midlands
Quantumdx Group Limited North East
Quin Technology Ltd North West
Quinola Mothergrain Limited South East
Raffolux Ltd East of England
Reactive Technologies Limited South East
Real VR Limited South East
Really Local Group Limited London
Reallyenglish.Com Limited London
Recruitment Smart Technologies Ltd London
Red Rickshaw Limited London
Renew Elp Limited London
Respoke Limited London
Rezolve Limited London
Rhetorik Global Limited South East
Rightindem Limited London
Rinicare Limited North West
Ripple Energy Limited London
Riversimple Holding Limited Wales
Rlt International Limited South East
Robin Ai Limited London
Rovco Limited South West
Saas Holdings Limited West Midlands
Samson Vti UK Limited North West
Save Your Wardrobe LTD. East of England
Scoodle Ltd London
Secret Group Limited London
Secret Spa (London) Ltd London
Sensat Ltd London
Sequence Nutrition Limited South East
Shadow Foundr Ltd London
Shieldpay Ltd North West
Siburan Resources Limited* Other
Signal Media Limited London
Sine Wave Entertainment Limited London
Smart Pension Limited London
Smartgate Solutions Limited Yorkshire and the Humber
Smidsy LTD. London
Sonicjobs App Ltd London
Sort Holdings Ltd London
Sorted Holdings Limited North West
So-Sure Limited London
Soter Analytics Ltd London
Spendology Limited London
Spill App Ltd London
Spore London Limited London
Sport Maison Limited London
Spring Financial Group Limited South East
Spybiotech Limited South East
Stagedoor App UK Limited London
Startpulsing Limited London
State Of Play Hospitality Limited** London
Steadypay Limited London
Step Ladder Solutions LTD. London
Storm Therapeutics Limited East of England
Strategic Blue Services Limited London
Streetteam Software Limited London
Summize Limited North West
Supadupa Me Limited London
Sustainability Group Limited** London
Synapse Information Limited West Midlands
Syndicate Room Group Ltd East of England
Synthace Limited London
Syntheticgestalt Ltd London
Tecs Group PLC North West
Tevva Motors Limited East of England
The Big Exchange Limited London
The Doctors Clinic Group Ltd London
The Gipsy Hill Brewing Company LTD. London
The Idco. Limited Scotland
The Little Car Company Limited South East
The London Interdisciplinary School Ltd London
The New Craftsmen Limited London
The Room Group Limited London
The Shackleton Design and Manufacturing Company Ltd East of England
Theolytics Ltd South East
Thetrianglelab Limited London
Thirdfort Limited London
Thrift Retail Ltd London
Tifosy Limited London
Time To Act Limited North East
Trident Cloud Limited East of England
Trigenex Ltd North West
Troo Ltd North East
Tuningbill Limited London
Tymit Ltd London
Ultraleap Holdings Limited South West
Under The Doormat Limited London
Underpinned Ltd London
Uni-Powa Corporation Limited London
Unique Ventures Holdings Limited London
Unwasted Limited London
Usnoop Limited London
Vaccitech PLC* South East
Veloce Esports Limited London
Vescor Group Limited South West
Vipr Digital Limited London
Viramal Limited London
Virttrade Ltd South East
Volt Technologies Ltd London
Voxpopme Limited West Midlands
Warwick Acoustics Limited West Midlands
Watkins Drinks Limited East Midlands
We Build Bots Ltd Wales
WEJO Group Limited* North West
Wildanet Limited South West
Yaar Bar Limited London
Yardlink Ltd London
Yellow Line Parking Ltd London
Yellowdog Limited South West
Yordex Ltd London
Zeelo Limited London
Zelp Ltd London
Zero Carbon Farms Ltd** London
ZOKU Ltd West Midlands
Zuma Array Holdings Limited London

*In some cases the Future Fund has exited the CLA/conversion in exchange for shares in another entity, and in some of these cases, companies will be registered outside of the UK.

** These companies have changed their company name since the last data release

Notes to editors

Future Fund

The Future Fund was established to support the UK’s innovative businesses affected by Covid-19. These businesses were unable to access other government business support programmes, such as CBILS, because they are either pre-revenue or pre-profit and typically rely on equity investment. The Future Fund, now closed to new applications, provided UK-based companies with convertible loans, on the condition that third-party investors at least match the Government’s commitment. The convertible loans are designed to convert into equity at the next equity funding round. The Future Fund was developed by government and delivered by the British Business Bank.

About the British Business Bank

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK, and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.

The British Business Bank’s core programmes support over £8.5 billion1  of finance to almost 95,000 smaller businesses2 .

The British Business Bank is responsible for running the government’s Coronavirus business loan schemes and Future Fund, together responsible for delivering £80.4 billion of finance to 1.67 million businesses. The schemes are now closed to new applications.

As well as increasing both supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of the finance options available to smaller businesses. The British Business Bank Finance Hub provides independent and impartial information to businesses about their finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success.

In light of the coronavirus pandemic and EU Exit, the Finance Hub has expanded and it now targets a wider business audience. It continues to provide information and support for scale-up, high growth and potential high growth businesses, but now provides increased content, information and products for businesses in survival and recovery mindsets. The Finance Hub has been redesigned and repositioned to reflect this, during this period of economic uncertainty.

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for the group can be found at

  • 1

    Figures as at 31 March 2021

  • 2

    Figures as at 31 March 2021