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What we do

Future Fund: Breakthrough

Future Fund: Breakthrough is £375m UK-wide programme which encourages private investors to co-invest in high-growth, innovative firms.

The programme makes equity co-investments with private sector investors in growth stage R&D-intensive British companies operating in breakthrough technology sectors. The minimum total investment round size is £30m. The maximum Future Fund: Breakthrough share of an investment round is 30%.

It is a separate programme to the now closed Future Fund that provided convertible loans, valued up to £5m, to a broad range of innovative companies to address the funding challenges caused by Covid-19.

Key features

  • Focused on R&D-intensive companies
  • Minimum total investment round size of £30m
  • Companies must have raised at least £5m in previous funding rounds
  • Companies must be UK based with significant UK operations
  • The application must be made by a sponsor investor
For Companies For Investors FAQs

Investment process

Lead investor begins application via the website

Sponsor investor begins application via the website

Assessment of lead investor eligibility

Assessment of sponsor investor eligibility

Introduction of British Patient Capital to company by lead investor

Introduction of British Patient Capital to company by sponsor investor

Assessment of company and transaction eligibility

Assessment of company and transaction eligibility

Preliminary Assessment by Investment Committee

Preliminary assessment by Investment Committee