The Cabinet Office has launched a consultation on a new, £10m risk-capital investment fund for businesses specialising in social enterprise. The Government has published plans for the fund, which aims to develop better access to private and independent investment for social enterprises. The plan is for the Government to create the £10m fund, which will be matched by a further £10m from the private and independent sectors. An independent fund manager will then be appointed and expected to make the same return on investments as independent investors. The deadline for responses to the consultation is 2 November, and the documents are available online at: www.cabinetoffice.gov.uk/third_sector/consu-ltations/current/risk.asp. ‘This new fund will help many social enterprises grow their businesses and flourish,' explained the Office of the Third Sector's director general, Campbell Robb. ‘Our proposals will also make it a catalyst for market change by bringing social enterprise together with private and independent investors. ‘This is vital if we are to build a sustainable future for risk-capital financing for social enterprises that is not reliant on government subsidy.'
