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Investment and Contract Readiness Fund to support arts ventures to access new social investment fund

8 Jan 2014 - 11:50 by michelle.foster

Arts ventures looking to raise investment can apply for an investment readiness grant as part of a new initiative to bring more capital into the arts sector.

Investing for Good and Cabinet Office are developing a new social investment fund for the arts sector. The Arts Ventures Fund will open in 2014 and aims to increase access to and participation in arts and culture amongst older people, establish education projects for young people and support projects in the wider community.

The arts sector makes a huge difference to the UK’s economy and society, with a turnover of £12.4 billion and generated more per pound invested than the health, wholesale and retail, and professional and business services sector). However, there is a wide gap between the availability of grant funding and access to long-term commercial capital. Social investment, provided by investors seeking to generate artistic, social and financial returns could provide capital in this space to ensure that growth can be realised.

To support the new Arts Ventures Fund, Investing for Good, Social Investment Business and the Cabinet Office have designed a tailored programme of investment readiness support for arts ventures within the already successful Investment and Contract Readiness Fund.

Applying for tailored investment readiness funding
Social ventures that work in the arts sector, have a commercial model, and are committed to report on their artistic and social impacts are welcome to apply for an investment readiness grant. Applicants should be looking to raise investment of over £500,000 over the next 12 months.

To apply, social ventures will be required to partner with one of the approved providers of support on the Investment and Contract Readiness Fund.

For further information and to apply, visit: www.sibgroup.org.uk/news/news/2013/investment-and-contract-readiness-fund-to-support-arts-ventures-to-access-new-social-investment-fund/  

Deadline: Tuesday 14 January 2014, 4pm

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