A new London Fund has been created to help tackle poverty in greater London. Deutsche Bank is the initial investor in this new venture philanthropy fund, which will be managed by leading UK venture philanthropy organization Impetus Trust. Impetus is now looking for other City firms and London-based organizations to invest in the Fund. The London Fund, currently valued at £1.3 million, will provide the usual venture philanthropy combined package of unrestricted funding and top calibre professional expertise to the organizations it supports. Three innovative charities have already been selected as initial investments, one offering employment opportunities to ex-offenders as a means of dramatically reducing re-offending rates; one working to break the cycle of poverty by reducing teenage pregnancy; and the third using sports as a hook to help homeless and other disadvantaged people back into employment or education.
For more information
http://www.impetus.org.uk or contact Impetus Trust on +44 20 7 745 7203