How one founder successfully landed cash from the UK's $400 million coronavirus rescue fund for startups
Sources told Business Insider that the Future Fund now won't cap the fund or the number of companies who will receive handouts. Three months on, Canaree is one of the few startup companies to have successfully raised money via the government's Future Fund. The Treasury announced the Future Fund one month later, with an initial tranche of £250 million ($311 million) being made available to distressed early-stage firms. The Future Fund is part of a broader set of financial packages intended to rescue smaller businesses during the coronavirus pandemic. As of June 28, the government had already exceeded the original fund of £250 million ($311 million), approving over £320 million ($400 million) in convertible loans to 322 startups.