Esmée Fairbairn invests £1m in CAF's Venturesome funds
Howard Lake | 30 November 2009 | News
The Esmée Fairbairn Foundation has committed to investing £1 million into Venturesome, Charities Aid Foundation’s social investment fund. Of this, £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 a research and development 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.”
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Danyal Sattar, Finance Fund manager at Esmée Fairbairn Foundation added that it had supported Venturesome for several years following its establishment in 2002. The new funding took the total it had invested in Venturesome to £1.8 million.
www.cafonline.org/default.aspx?page=6903
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.