The Reach Fund is a two year £4m grant fund that is going to test a new model for investment readiness support. The programme is funded by Access – The Foundation for Social Investment and is open to organisations in England.
Many social investors have been approached by charities and social enterprises who require extra support to become ‘investment ready’.
Through this programme social investors will have the opportunity to refer these organisations to the Reach Fund to apply for the support they need. Grants of up to £15,000 will be available.
WHY THE FUND IS DESIGNED THIS WAY
‘Investment readiness’ has long been highlighted as an issue that prevents charities and social enterprises from accessing social investment.
From the launch of the Investment and Contract Readiness Fund to current programmes such as Big Potential, grant support has been made available to help charities and social enterprises get investment ready.
Access has been setup to continue this work and test new models of investment readiness. The Reach Fund is one of the new models they want to test.
WHY WE THINK THIS WILL WORK
We believe that placing the social lender at the heart of the process, and asking them to design the investment readiness plan, could increase the chance of an investment being secured and could also offer better value for money. We also hope that this approach will result in a smooth journey for charities and social enterprises seeking investment. If they require support after they have approached a social investor they will have an immediate route to further support.
If you are referred to the programme your social lender will work with you to identify your needs, develop an investment readiness plan, and apply for a grant.
If you are successful in your application, you can use this funding to pay for the support you need to become investment ready. You can then return to your Access Point to, hopefully, get the investment you need.
For more information please go to the website by clicking here.