UK government invested in canned beverage brand
The UK government became a shareholder of more than 150 companies during the coronavirus pandemic, including a canned beverage company.
Around £1.1billion was spent by the government supporting 1,190 companies through the Future Fund.
In August, around 150 of those companies had their loans converted into equity stakes after they successfully raised money from private investment that at least matched government funding.
Among those are Skinny Tonic, the canned beverage brand that makes 10 different flavours of tonic.
The list, published by the British Business Bank (BBB), also included a kombucha drink maker, CBD oil brand and entertainment companies.
“The Future Fund was set up to ensure that investment keeps flowing to our most innovative businesses, and it’s fantastic that taxpayers now have equity in these top-performing startups,” the chancellor, Rishi Sunak, said in a statement released by the Treasury to coincide with the release of the BBB’s data.
“Investing in these companies has the potential to accelerate innovations that will transform UK industry, develop new medicines and strengthen our position as a science superpower.”