Funding news

Adventure Capital Fund to run £215m Futurebuilders Fund – Monday 28 January 2008

The Cabinet Office has announced its intention to appoint the charity Adventure Capital Fund (ACF) to manage the broader second phase of the Futurebuilders fund.

ACF will be responsible for investing an additional £65million of government funds, on top of the £150m already made available to the Futurebuilders Fund, to develop third sector delivery of public services between 1 April 2008 and 31 March 2011. ACF will also manage the existing investments but the Cabinet Office has assured that current investees and third sector organisations that have applications in the pipeline will not be affected.

Since its launch in 2004 the Futurebuilders Fund has provided loan and grant based finance to support charities, voluntary groups, social enterprises and other third sector organisations to develop their capacity to deliver better public services.This first phase, managed by Futurebuilders England, focused on developing services in five key areas, children and young people, community cohesion, crime, health, and education. First announced last year, from 1 April 2008 the second phase will expand and open up the fund to bids from third sector organisations delivering any public service.

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