30/11/09
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Esmée Fairbairn Foundation has committed £1m of investment into Venturesome's funds. Of this investment, £500,000 has been allocated to Venturesome's Bridging Fund, £250,000 to Venturesome's Development Fund, and £250,000 to the Innovation Fund.
The Bridging Fund offers low risk working capital and cashflow loans to charities. The Development Fund deals in higher financial risk situations, and aims to support charities to build their capacity to achieve increased social impact.
The Innovation Fund is an R&D fund which tests new financial instruments and innovative ways for funders to work.
John Kingston, director of Venturesome, said: "This is a tremendous vote of confidence by a leading grant-making foundation in the Venturesome model and our mission to build a robust social investment market."
Danyal Sattar, finance fund manager at Esmée, said: "Esmée has supported Venturesome for many years, and we are pleased to provide this increased investment as Venturesome continues to pioneer new approaches in social finance. Together with our support for the Community Land Trust Fund, Esmée now has £1.8m invested in Venturesome."
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