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Future Fund: Breakthrough

Future Fund: Breakthrough is a £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