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Impetus–The Private Equity Foundation (Impetus-PEF), the pioneer of venture philanthropy in the UK, today announced an additional investment of £600,000 over two years in Street League, the charity which uses football to change the lives of unemployed young people from the most disadvantaged backgrounds.
Impetus-PEF brings strategic resources to charities and social enterprises that work to support children and young people in poverty in the UK.
It uses a highly effective venture philanthropy model, consisting of management support from the Impetus-PEF investment team, pro bono specialist expertise and funding, to support and then increase the capacity of charities that it believes are tackling the most persistent social problems affecting children and young people.
Street League works with 16 to 25-year-olds who are not in employment, education or training and are facing the biggest barriers to work, such as long-term youth unemployment, youth offending, substance misuse and homelessness.
It provides these young people with a structured programme of football and education in order to develop vital life and employability skills such as communication and teamwork.
Street League also offers CV-writing and mock interview sessions to support young people into employment. Additionally it provides aftercare for young people who have exited its Academy programme.
Impetus-PEF initially invested in Street League in 2008 and to date has invested £700,000 in financial support, pro bono expertise valued at over £850,000 and management support from its Investment Directors.
Since Impetus-PEF’s investment, Street League has grown nationally from operating in three regions to currently being active in nine regions across England and Scotland.
To enable Street League to reach at least four more regions and increase the number of young people it helps into employment, education and training, Impetus-PEF is now investing an additional £600,000 over two years.
In addition to pursuing organic growth, Street League plans to extend its reach through franchising, allowing other organisations to deliver its programme. A pilot franchise is currently on trial.
Commenting on the investment, Julia Grant, portfolio director at Impetus-PEF managing the Street League partnership, said: “Street League is one of the most exciting, dynamic and fastest-growing charities in the UK.
"Like Impetus-PEF, they have a vision to help bring an end to structural youth unemployment in the UK. Currently, 81% of Street League graduates achieve employment, training or education, this is a strong track record achieved through the power of football.
"We are entering into our sixth year of working with Street League and are excited about continuing to support the growth of this ambitious organisation. With our additional investment of £600,000 and our continued pro bono support, Street League can expand its national footprint and deliver lasting outcomes of sustained employment and education.”
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