Access – The Foundation for Social Investment (Access) and Social Investment Business (SIB) have announced that the Reach Fund, the pioneering grant programme which supports charities and social enterprises to take on social investment, will continue for at least a further three years.
Cycle Penistone CIC is a community bike facility and shop that promotes an inclusive approach to cycling. They applied for a Reach Fund and managed to secure investment to help them better cater to growing demand for their products and services.
Charities and social enterprises looking to raise investment via Crowdfunder.co.uk and Ethex will now be able to apply for a Reach Fund grant.
As Access publish their latest Quarterly dashboard we have drawn out the latest Reach Fund statistics and the story of what has happened so far.
Greater Manchester Centre for Voluntary Organisation (GMCVO) has become the newest Reach Fund Access Point. Applicants to their GM Social Investment Fund can now apply for investment readiness grants to help them secure a deal.
North East Dance use dance and fitness as a means to tackle health and social issues in Sunderland. When they were looking at how to diversify their income the Reach Fund helped them get the investment they needed to grow.
Four new social investors have been approved to work with the Reach Fund, a £4m investment readiness grant fund. Approved investors, known as ‘Access Points’, can refer charities and social enterprises to apply for investment readiness grants.
Hollywell Housing Trust, a charity and social enterprise set up to offer bespoke housing services for vulnerable people in Devon & Cornwall, has become the first organisation to receive investment as a result of a Reach Fund grant.
The Reach Fund, the grant programme designed to help charities and social enterprises access social investment, has re-opened applications for social investors to become approved Access Points.
Northstar Ventures are one of the first cohort of Access Points. Peter Gilson, Investment Manager, explains why they wanted to get involved with the Reach Fund.