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

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.[1]

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.

Ken Cooper, Managing Director, Venture Solutions, British Business Bank said:

“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.”

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.

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

Breakdown of total book

Convertible loans703
Equity investments where Future Fund retains an equity interest400
Fully exited33
Administrations (still in loan status)54


Reconciliation since last quarterly update

Previous published conversions337
New Conversions65

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

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:

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

*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 billion[1] of finance to almost 95,000 smaller businesses[2].

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