# GB-Sheffield: future funds

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [British Business Bank](/buyers/british-business-bank/contract-awards)
- Contract winner: [PricewaterhouseCoopers LLP](/contract-winners/pricewaterhousecoopers/public-sector-contract-awards)
- Award value: £5,730,000
- Tender value: £5,730,000
- Award date: 4 May 2020
- Published: 26 May 2020
- Contract start: 18 May 2020
- Contract end: 17 November 2021
- Stage: awarded
- Procurement category: services
- Notice ID: dd1b326a-334a-42cb-8bc9-59eb9769e742-360727
- OCID: ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c

## Description

2\.1\.1The Chancellor of the Exchequer announced the establishment of a new scheme to support innovative businesses in the UK currently impacted by Covid-19 \(the "Future Fund"\)\. The Future Fund is aimed at businesses that have been unable to access other government business support programmes either because they are pre-revenue or pre-profit and/or typically rely on equity investment\. The support provided will be in the form of convertible loan notes \("CLN"\) into eligible companies on a 'matched basis' meaning there is a requirement for eligible investors to make an investment into the company as a condition to receiving government support\.

## Related contract awards

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- [GB-Sheffield: Controls Testing - RM6130 - Audit and Assurance Services Two \(A&AS2\)](/contracts/ocds-b5fd17-7c374ad2-adce-4fbd-b209-05e3be017a97): British Business Bank
- [GB-Sheffield: M&G Third Party Administration Support](/contracts/ocds-b5fd17-53c20686-804c-4d66-9758-8a09a64d169b): British Business Bank
- [C1155 - Project Supercharge - Financial and Tax Due Diligence](/contracts/ocds-b5fd17-c658b019-c2ff-4a2d-be60-e1600439be67): NATIONAL WEALTH FUND LIMITED
- [Financial Advisory Services for Supporting the Design of Financing Mechanisms](/contracts/ocds-b5fd17-9214d494-d810-4a18-9a32-e388c67a03d9): HM TREASURY
- [Award of Contract for the provision of an Adult Social Care Service Diagnostic](/contracts/ocds-b5fd17-2fc24901-0890-435e-89e8-bc5f60bd3303): Herefordshire Council

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/dd1b326a-334a-42cb-8bc9-59eb9769e742-360727)