High-growth businesses that need investment to help them through the coronavirus crisis are being urged to apply for a Government funding scheme.

Robert Dobson, corporate partner at Napthens, said the firm has a number of clients which are going through the Future Fund process – which match funds investments from third parties.

The £500 million Future Fund is aimed at helping innovative and high-growth businesses to support continued growth in sectors as diverse as technology, life sciences and the creative industries and closes at the end of September.

Robert said: “The scheme is limited in its total value and in duration so our message to those businesses that could qualify and need investment is simple – apply now before it runs out.

“Having been through the process, we’ve found that it does work for the relevant businesses and it is worth applying for.

"This finance bridges the gap where investment has already been made but been put on hold during the current pandemic, and allows the development of the business to continue.”

Companies can apply for a convertible loan of between £125,000 and £5 million to support continued growth and innovation.

The fund is open to UK-based firms that have previously raised at least £250,000 in equity investment from third parties in the last five years.

Napthens has already worked with its client VivoPlex Group, based in Abingdon, in Oxfordshire, to secure funding to further develop its specialist medical monitoring device for fertility treatments.