UK proposes post-Brexit startup fund to back future unicorns
August 02, 2017
The UK Treasury has announced plans to set up a new investment vehicle for startups, the National Investment Fund, to support them on their journey to become unicorns. The vehicle could be created either as a public-private partnership or be placed under the Government’s supervision.
The announcement comes after a government consultation identified a £4 billion funding gap between US and British companies.
The vehicle will also help to fill the possible funding shortage for companies relying on capital from the European Investment Fund, should it stop backing UK companies post-Brexit. This would prove vital given the crucial role that the EIF plays in British VC.