Companies backed by Nick Candy get £2m pandemic cash

Companies backed by billionaire Nick Candy tap taxpayer for more than £2m during coronavirus pandemic

Published: 21:54 GMT, 3 January 2021 | Updated: 22:39 GMT, 3 January 2021

Companies backed by billionaire Nick Candy have tapped the taxpayer for more than £2m since the pandemic began.

Blippar and Vibe Group, start-up companies which count Candy as a significant investor, have raised cash from the Government’s Future Fund.

Sweetener: Blippar and Vibe Group, start-up companies which count Nick Candy as a significant investor, have raised cash from the Government’s Future Fund

Blippar, an augmented reality firm, raised £3m in 2020 with half coming from the Government.

Vibe, a ticketing business, bagged £850,000 from the Future Fund, which was designed to help innovative young companies struggling to raise cash from their investors during the pandemic.

The fund was initially supposed to hand out £250m of state cash, but it has escalated to more than £976m.

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