Future Fund
(asked on 31st March 2022) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government how many companies have been scrutinised following quarterly filing of management information under the Future Fund Scheme; and what details are required as part of that management information.
Answered by
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Companies receiving investment from the Future Fund did so under a Convertible Loan Agreement (CLA) on standard terms. Schedule 4 of the CLA specifies management information that the company is required to provide each quarter. The British Business Bank scrutinises all management information submitted by Future Fund companies.
The CLA is a public document, a copy of which is attached.