I got a letter from the government the other day. I opened and read it, it said they would fund us…
Yes, some music companies in the UK have received investments from the government, in the form of the British Business Bank’s Future Fund.
This week it published a list of 158 startups in which the fund holds an equity stake, having invested £1.14bn of convertible loan agreements so far, which have to be matched by third-party investors.
1,190 companies have so far been issued the loans, but the 158 are the ones who have turned that into an equity stake. Ticketing startup Dice FM is one of them, as is Kano, the computing startup that recently created some music-remixing hardware with Kanye West. Independent label and studio Gearbox Records is also on the list.