Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, with reference to the data by the British Business Bank on Companies in which the Future Fund has an equity stake, what the total value is of the equity interest retained by the Future Fund in the 83 companies listed as having entered into administration or insolvency proceedings.

The Future Fund is a government scheme to support UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors. The scheme, alongside other Government support schemes, aims to support companies facing financing difficulties due to the Coronavirus outbreak. The Future Fund scheme is being delivered by the British Business Bank (BBB).

In respect of the 83 companies which have gone into administration or insolvency, those companies’ loans had not converted into equity and therefore the equity value retained by the Future Fund is zero.