Discover and read the best of Twitter Threads about #futurefund
Most recents (6)
@ArmitageJim @premnsikka 1/ UK’s government investment fund (#FutureFund) largely backed ‘zombie businesses’ (ft.com/content/230fa1…). The #FutureFund was managed by the unaccountable fat-cats at the #BritishBusinessBank (aka British Bank of Wank) “BBB”, whose baboonery … 
2/ reportedly even extended to forgetting to remove parts of FOI’d documents they had decided to redact before having to publish. Lord Agnew recently railed against the COVID pandemic support scheme baboonery from the toddlers at the Treasury & it’s appendage the BBB, …
3/ extending his concern to the opaqueness surrounding the record of the two dozen ‘lenders’ doling out tax payer money as govt. COVID loan support - many, it’s alleged, doing little to no due diligence. Meanwhile, the BBB’s statutory accounts show they ‘mark their own work’ …
@ArmitageJim @premnsikka 1/ @TheFCA’s #Emoney op #Pockit’s survival ‘under threat' unless it secures cash injection. Another client of of Newcastle Building society’s notorious prepaid card unit aka #Wirecard UK ( + the subject of a future expose).
2/ #Pockit, a serial loss-maker, was launched in 2014 by its honcho, the scion of the $billionaire Virraj brothers (who made their bones in Africa & the ‘Wild East’ following the breakup of the FSU) + their now sold offshore $billion personal-care products empire.
3/ Pockit’s clientele, however, couldn’t be more different from that of it’s honcho & the London startup scene - the ‘under-privileged’ & ‘unbanked’. Pockit was seeded by family wealth, early stage by vcs & tapped FCA auth. #Crowdfunding op #CrowdCube with a 8% convertible …
1/ Clarification re tax reliefs & #FutureFund: The answer is no.
"The matched private investors will not be able to obtain S/EIS tax reliefs nor will qualify as a VCT investment"
united-kingdom.taylorwessing.com/en/news/what-y…
"The matched private investors will not be able to obtain S/EIS tax reliefs nor will qualify as a VCT investment"
united-kingdom.taylorwessing.com/en/news/what-y…
2/ Before you start crying wolf and that greedy VCs designed this scheme 🧐, a number of people including me have asked of the taskforce for this be added.
3/ If I put myself in Government shoes, the existing Angel tax relief system in the UK is one of the best in the world
... and hence I can see their hesitation in providing matched funding AND tax relief at the same time. I can understand why this position was taken.
... and hence I can see their hesitation in providing matched funding AND tax relief at the same time. I can understand why this position was taken.
@RishiSunak @PradzWorLd 🙏 welcome launch of Innovative fund to control coronavirus.
We hv invented an economical add-on for billions of existing normal water taps to upgrade to Automatic taps without Electronics/Electric, in situ.
Do we qualify a share of the #FutureFund : proven proto to market
1/Ff
We hv invented an economical add-on for billions of existing normal water taps to upgrade to Automatic taps without Electronics/Electric, in situ.
Do we qualify a share of the #FutureFund : proven proto to market
1/Ff
@RishiSunak @PradzWorLd @UNDP_India @CWCOfficial_GoI @Water @CGWB_CHQ @IndiaDST @nifindia @CNBCTV18News @azimpremjiuniv "New Tap-matic
Fully Automatic
Without Electronic
Without Mechanic"
Just under a quarter ...
Save millions of liter
Our precious water
@MoJSDoWRRDGR
@MissionPaani
@paanifoundation
@CWCOfficial_GoI
@paramiyer_
@savewaternaula1
@DrRSingh1969
@CNBC
2/Ff
Fully Automatic
Without Electronic
Without Mechanic"
Just under a quarter ...
Save millions of liter
Our precious water
@MoJSDoWRRDGR
@MissionPaani
@paanifoundation
@CWCOfficial_GoI
@paramiyer_
@savewaternaula1
@DrRSingh1969
@CNBC
2/Ff
@RishiSunak @PradzWorLd @UNDP_India @CWCOfficial_GoI @Water @CGWB_CHQ @IndiaDST @nifindia @CNBCTV18News @azimpremjiuniv @MoJSDoWRRDGR @MissionPaani @paanifoundation @paramiyer_ @savewaternaula1 @DrRSingh1969 @CNBC @wef @charitywater @JHBWater Final shape of this "Tap-matic" will be
"Big Drop ... Controlled by 💧 Droplet"
Every single person from millions of users of normal tap will #SaveWater .. & #SaveEarth
@wef @WEForg
3/Ff
"Big Drop ... Controlled by 💧 Droplet"
Every single person from millions of users of normal tap will #SaveWater .. & #SaveEarth
@wef @WEForg
3/Ff
1/ Innovation and entrepreneurship have powered growth in this country for centuries, and it is what will drive our growth as we recover from this crisis.
So today I launched two initiatives to support the most innovative firms in the county, worth £1.25bn.
So today I launched two initiatives to support the most innovative firms in the county, worth £1.25bn.
2/ Firstly, a new £500m #FutureFund, to make sure that high growth companies across the UK can continue to access investment.
Launching in May and delivered in partnership with @BritishBBank we’ll provide UK-based early-stage companies with loans between £125,000 and £5m.
Launching in May and delivered in partnership with @BritishBBank we’ll provide UK-based early-stage companies with loans between £125,000 and £5m.
3/ Our Future Fund will match investments made by private investors in early-stage businesses, on terms that protect the UK taxpayer.
1/ UK Gov announced £250M #FutureFund to support startups with matched funding.
Key terms as published are as follows:
Key terms as published are as follows:
2/ Unsecured convertible bridge loan alongside matched investors -- up to 50% of the bridge amount.
Min £125,000 – Max £5,000,000.
Note there is NO CAP on bridge size or on valuations so this is designed to serve startups and scaleups.
Min £125,000 – Max £5,000,000.
Note there is NO CAP on bridge size or on valuations so this is designed to serve startups and scaleups.
3/ Conversion into Equity at Discount Rate agreed with a minimum of 20%.
Conversion automatic if Next Round Amount > Bridge Amount (“qualifying round”)
Conversion automatic if Next Round Amount > Bridge Amount (“qualifying round”)
