A new multi-million pound social investment fund focused on tackling inequality and promoting racial justice in the UK, has opened to applications from diverse-led social enterprises looking to grow their impact. The Growth Impact Fund, managed by Big Issue Invest, will invest between £50,000 and £1.5 million in social businesses to support early-stage founders from underrepresented groups who have previously been excluded from investment.
It is expected to support 50 to 60 organisations through investments in the form of equity, patient debt or revenue-based funding. Up to £15,000 pre-investment grant funding is also offered for social businesses that would like some support to get ready for investment, and up to £20,000 as additional funding support to help organisations grow. The first investments are expected to take place in July 2022.
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