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Last updated: 27 January 2010
27 January 2010
The Futurebuilders Fund is now fully committed and is currently closed for new applications following the strong demand for investment funding.
The innovative Futurebuilders Fund was set up in 2004 to provide loans and grants to third sector organisations to help their build their capacity to deliver public services. Through its patient and nurturing approach, it has built a track record of social investment with a wide range of organisations.
The Fund, which is managed by the Social Investment Business under contract to the Cabinet Office, has offered investments to over 370 third sector organisations and shown that there is an appetite for loan finance in the third sector.
Futurebuilders has brought real change to its investees, strengthening their capacity, enabling them to bid for and deliver better quality public services.
In 2009 alone, Futurebuilders investees won over 230 public service delivery contracts.
In addition, the Futurebuilders Fund has co-invested with a wide range of social and mainstream investors, crowding in additional investment into the sector.
The success of Futurebuilders has paved the way for further growth of the social investment market.
In the Pre-Budget Report of 2009, Government announced that it will finalise a model for the Social Investment Wholesale Bank by Budget 2010. The Government also announced its intention to commit up to £75 million of the funds expected to be released through the Dormant Accounts Scheme in England, to fund the Social Investment Wholesale Bank’s initial capitalisation.