Key facts
- The Future London Growth Fund aims to provide over £70 million in loans.
- The fund targets London-based scaleups that may be overlooked by traditional lenders.
- Loans will range from £1 million to £3 million.
- The British Business Bank committed £20 million to the fund.
- Funding London is also a key investor.
The Future London Growth Fund has been launched with over £70 million in loans to support ambitious scale-up businesses across London that may be overlooked by traditional finance providers. The fund, backed by the British Business Bank and Funding London, aims to address gaps in access to growth finance for smaller businesses, particularly those in underserved communities or without established investor networks.
Loans will range from £1 million to £3 million, filling a gap between conventional bank financing and larger venture debt. The fund intends to support between 40 and 50 businesses, with the capital being reinvested as loans are repaid. The British Business Bank provided a £20 million cornerstone investment, with Funding London also contributing as part of the Mayor of London's London Growth Plan.