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Close to 100 companies that took money from the state-backed Future Fund have gone bust, highlighting the risks of the Covid-19 support scheme designed to protect promising tech and early-stage businesses at the height of the pandemic.
On Thursday, the government revealed that 83 companies that received convertible loans from the Future Fund had gone into administration or been declared insolvent.
Future Fund converted its investment in a further 12 businesses into equity stakes in businesses that had also failed. The collapse of these businesses puts millions of pounds of taxpayer money in…
Read the full article at: https://www.ft.com/content/c2158644-fc7a-4864-a68e-097433fc3e20