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Fund manager of £100m Social Enterprise Investment Fund announced 09/03/09
 
A consortium led by Futurebuilders England has been announced by the Department of Health as the fund manager of its £100 million Social Enterprise Investment Fund (SEIF).

Futurebuilders England, in association with Partnerships UK, will provide extended services to the Department of Health to support organisations that are, or are aiming to become, social enterprises delivering health and/or social care services.

Commencing in June 2009, Futurebuilders England and Partnerships UK will work closely with the Department of Health’s Social Enterprise Unit, and an independent investment panel, to support and assess applications to the Fund.

Futurebuilders England will also manage the investments made by the Fund.

Futurebuilders England will design a range of financial solutions including loans, grants and innovative equity investment products, along with tailored business support services that can be provided by the Fund.

Partnerships UK will use its particular expertise in working with public bodies, to assist NHS staff who, through the Department of Health’s “Right to Request” process, wish to create new social enterprises.

Jonathan Lewis, chief executive of Futurebuilders England commented: “We are extremely pleased to have been appointed to run the SEIF on behalf of the Department of Health. Having built solid foundations with the main Futurebuilders Fund, we will use our expertise to extend and develop the SEIF offering.”

James Stewart, chief executive of Partnerships UK commented: “Social enterprises already make a huge contribution to the delivery of public services. This contribution is only going to increase in the future.

"Partnerships UK is delighted to be working alongside the Department of Health and Futurebuilders England to help social enterprises realise their full potential in delivering health and social care services”.

For more information on SEIF, go to www.dh.gov.uk

 
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