ICYMI – update on Dormant Assets
There has been a positive update regarding the next tranche of Dormant Assets. The UK government has reconfirmed £87.5 million will be used for social investment over the coming years. You can find all the details here.
However, we’re not yet at the final stage in confirming the next allocation of Dormant Assets for social investment. We’re working closely with the DCMS team as they look to publish a Dormant Assets Strategy in the coming weeks and months.
Stay tuned for more updates!
This month at Access
New open data on our reach
We’ve launched several new pages on our dashboard to track the reach of our programmes. It shows how well our programmes are doing in reaching more deprived communities and organisations led by people with different protected characteristics. It’s a great tool for seeing how far our work is going and how much we’re achieving, as well as where we need to improve. You can explore the dashboard and dive into the data here.
Diversity Forum Webinar on EDI and leadership
Access CEO, Seb Elsworth, recently spoke alongside Bonnie Chiu, Managing Director at The Social Investment Consultancy on the role of leadership in advancing diversity. If you missed it, don’t worry – you can catch the full session here. It’s a great resource for anyone interested in making the social investment space more inclusive.
Our Cost-of-Living Programme – one year on
Access Programme manager, Greg Woolley, reflects on the first year of the Cost-of-Living programme. Backed by Dormant Assets, the programme was designed to support charities and social enterprises supporting communities most affected by the rising cost of living. Read more here.
Access endowment delivers strong social impact and market returns. In 2023, 35% of Access’s endowment was directly invested in UK-based charities and social enterprises. More here.
Social Investment Stories
Check out this inspiring story from Livv and Flourish, a significant social investment fund with £4.25m of support in the form of blended finance available for social enterprises and charities across the Liverpool City Region over the next three years. You can read the full story here.
What we’re reading and listening to
- As the Connect Fund comes to an end, this article reflects on the work the fund has done and its role in strengthening the social investment market. Take a look here.
- The Guardian has published a thought-provoking article on the state of social cohesion in the UK, following recent social unrest. This Social Fabric Index Report provides valuable context for anyone interested in the relationship between social issues and investment. You can read the full article here.
- At a recent event, both the Social Investment Business and Access shared reflections on how the £13 million of grant under the Reach Fund has been distributed to date. The event featured sessions on investment readiness, support for diverse-led organisations, and reflections from VCSEs benefiting from the grants. Hear more about it here.
Reasons to be cheerful
- The British Business Bank announced a £150 million financing vehicle for CDFIs to fund underserved small businesses, with a focus on areas of higher deprivation and on enterprises run by women and people with a minority ethnic background. J.P. Morgan announced £4mn grant to support capacity building to help CDFIs absorb and distribute this new source of funding. More here.
- The European impact investing market is set to grow to a whopping €190bn, and Impact Europe is leading the charge to help accelerate this movement. More here
- Labour’s Rachel Reeves is due to reveal a new mutual council in collaboration with Nationwide and the Co-op. This will provide new opportunities for mutuals in the social investment space. You can read all about it here.
Blended Finance Collective
The Blended Finance Collective is a new community to learn, connect and collaborate on blended finance. Based in the UK, we bring together practitioners from every corner of the globe, across sectors and geographies.
Did you know?
We’ve joined Blue Sky! 🎉
Yes, we’re now on Blue Sky, and you can follow us for the latest updates and conversations. Check out our profile here.
Access is a wholesaler of grant subsidy into social investment funds and other initiatives. We do not make funding available to charities and social enterprises directly. If you are a charity or social enterprise looking for support or to find out more about social investment please visit Good Finance.
