Meet the UK’s newest VC. No, it’s not an American fund venturing across the pond, it’s Britain’s own Rishi Sunak.
The Treasury has announced a £375M fund aimed at increasing innovation in the UK. More here
and listen to what Rishi has to say in the tweet above 👆
Fast-growing firms working on “gamechanging” technology, including in areas such as life sciences and clean energy, are being invited to apply for a slice of a £375m fund aimed at fostering innovation in the UK.
The fund will work similarly to other government schemes, where companies will still need to show they have secured private investment - at least 70% of their funding in this case with the government making up the difference.
Companies will need to be seeking at £30M to qualify.
Keep an eye out as Rishi will be hosted a tech conference in East London (naturally), in September to connect investors and business leaders in tech and talk more about the Future Fund.