# Octopus funds new foundation with £350k donation

- Link: https://fundraising.co.uk/2015/02/18/octopus-funds-new-foundation-350k-donation/
- Published: 2015-02-18T11:52:46+00:00
- Author: Howard Lake

**Fund management company Octopus Investments has created the Octopus Foundation,
a new grantmaking charity that will support five small and medium sized charities
that are achieving a significant social impact.**

The initial grant of £350,000 is the equivalent of all of the first year’s annual
management charge on all new applications received or pledged yesterday. The company
points out that it maximised this sum as the launch falls in the middle of tax year
end, one of its busiest times of the year. Financial advisers and investors also
had the option to pledge applications yesterday in support of the initiative.

## Five small charities

The five small and medium sized charities have already been chosen by Octopus employees.
There are:

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* CALM

* Greatwood

* North and South London Cares

* Rays of Sunshine Children’s Charity

* Youth at Risk.

The charities will benefit not only from funds raised by Octopus over the next three
years but also from voluntary support from Octopus employees. Each Octopus employee
will be given a day off to support one of the five charities.

Simon Rogerson, CEO of Octopus, said:

> “It’s great to be in a position where we can now start to give a little back. 
> We wanted to support smaller UK charities that are making a massive difference
> in communities around the country and where our help can go a long way to enabling
> them to keep doing the work they’re doing.”