You may be asked by your client to assist in two aspects in relation to the Future Fund scheme:
Legal advice: you may be asked to advise on the scheme and its associated documents, by either an Investor or the Investee Company (further information about the scheme and the application process can be on the Solicitors page of the Future Fund website). and/or
Settlement: if you act for the Investee Company it is a requirement of the scheme that you facilitate completion and you must therefore be a UK regulated solicitor permitted to receive and hold client money – this will involve receiving and holding the completion monies to order from the Lead Investor and any Other Investor (or their solicitor(s)), to be released to the Investee Company on execution of the Convertible Loan Agreement and upon confirmation from the Future Fund via the Future Fund portal. You will also receive the completion monies from the Future Fund post-completion, which you will send as soon as possible to the investee company. Please see the FAQs on Settlement and Regulatory Guidance for further information on settlement/completion and handling client money.