Project: Venture Philanthropy Initiative in Ageing
The project aims to develop a venture philanthropy fund to support social enterprises for the vulnerable ageing. Finance for Sustainability (FFS) will advance a new initiative to address the challenges of ageing for vulnerable individuals, including lack of age-appropriate housing, lack of employment opportunities and increasing financial insecurity. The venture philanthropy (VP) model FFS propose is designed to use investment and philanthropic capital alongside long term engagement and specialist, sector-specific support to develop new and supplementary sources of income, sustainable business models and robust social outcomes frameworks for selected charities, social enterprises and social businesses in targeted sectors in ageing. The initiative will share learning across the sector with a view to supporting the development of social enterprises and businesses capable of delivering sustainable and measurable social outcomes, raising social investment and growing to scale.
The FFS project will evaluate and potentially replicate and build on part or all of the Impetus PEF Venture Philanthropy model, and consider aspects of the Social Business Trust VP model. The intent is to build another successful VP initiative in the UK focused on the ageing, vulnerable elderly and to catalyse investment and philanthropic capital from investors (charitable, social, institutional, family office) whose interests are aligned with the ageing sector. If successful, the project will increase the capital and support available to charities, social enterprises and social businesses (VCSEs) seeking to serve vulnerable and disadvantaged elderly and local communities.