Uk: adventurous new fund

The Adventure Capital Fund (ACF) has announced that it will deliver a new £4 million capital programme fund from the Home Office to help community organisations develop incubator and managed workspace for smaller organisations. The fund will be the first new product to be launched by the ACF since it received confirmation that it would be rolled out after its pilot phase came to an end earlier this year. The ACF has a further £5 million to invest over the next three years to improve the sustainability and asset base of community organisations. Funding has been generated from the Home Office the ODPM, the DTI and several Regional Development Agencies. Sue Peters, chief executive of the ACF, said: “This fund is going to be a really exciting opportunity for the community sector as a whole. It is about enabling well established organisations to support smaller organisations, while simultaneously providing them with a new source of income. It is a fund that is designed in line with our objective to increase the sustainability of community organisations, the wider sector and, of course, entire neighbourhoods.” www.adventurecapitalfund.org.uk