What is the Rescue Equity Fund?
The fund delivers investments to startups who deserve an opportunity to survive the economic impact of the lockdown put in place to suppress Covid-19. Government initiatives have provided limited help to only a limited number of early-stage businesses so funding from the private sector will be vital to keep startups alive.
Who gets funded?
Companies qualify for funding by meeting our minimum rating requirement on a Capital Pilot Assessment. Our assessment has been used to rate hundreds of companies and we believe that it is the most efficient and objective way to identify those companies that should receive funding from the Rescue Equity Fund.
How can I apply and get assessed?
Companies need to register on Capital Pilot platform and complete a quick onboarding questionnaire. Then, they will need to upload their pitch deck and financial model and request assessment.
How much does it cost?
Assessment for Rescue Equity Fund application costs £150 + VAT.
How long does it take to hear back?
The assessment has a seven day turnaround.
What happens after I get assessed?
After this, founders will be provided with an assessment report and those that qualify will be referred to Seed Legals to complete the deal with SeedFAST.
What if I am unsuccessful?
You will still get an assessment report with an overall investability rating and individual category scores. The report identifies the key strengths and weaknesses of your proposition from the perspective of a potential investor as an objective third party entity. Think of it as a comprehensive feedback from investors on how to improve your proposition.
Are there any other checks involved?
Yes, qualifying companies will need to undergo KYC and anti-money laundering checks by the investment manager. So be prepared to allow some time for the completion of those checks as well. You may be asked to submit some supporting documents such as business bank statements and company documents, etc. Though we aim to make the process as frictionless as possible, it is a good idea to have such documents lined up as soon as you can.
How much funding is available?
The aim is to raise between £5m and £50m to invest with each company receiving £50,000. We think this is the best way to get the money delivered quickly to startups. This investment is also a signal of quality that we hope will give other investors confidence to commit capital to qualifying companies.
Who's providing this funding?
It would be amazing if public money was made available to invest in startups at the earliest stages. Whilst there are ongoing discussions with public bodies, our focus for raising this money at this stage is private investors who care about the startup ecosystem and recognise its importance to the wider economy. If you know someone eager to help startups who might want to help contribute this raise then please reach out to us!