The Somerset Social Enterprise Fund
Seven and a half years since our first social investment, during which time we awarded almost £1.3 million through 29 blended social investments, we are pausing the Somerset Social Enterprise Fund.
While repayments continue to made back into the fund, the original investment is now almost entirely capitalised in local social enterprises. For this reason we are now pausing to review our social investment programme, with the aim of launching a new fund in autumn 2023.
So far, around one third of the original loan capital has been repaid back into the Somerset Social Enterprise Fund, with some of that money now recycled back into other organisations through our most recent social investment funding. We will be sharing more about what the fund has achieved since its launch, in the coming weeks.
If you’d like to discuss an idea with us while we’re working behind the scenes to create a new, dedicated investment programme for Somerset, please get in touch with Amelia: firstname.lastname@example.org or call Amelia’s direct dial: 01749 597142.
* The Growth Fund is a partnership between The National Lottery Community Fund and Big Society Capital, delivered by Access through a range of social investors including Somerset Community Foundation. It makes up to £50m available to support charities and social enterprises to grow and create social impact in their communities. The Growth Fund uses a combination of grant funding, made possible thanks to National Lottery players, and loan finance from Big Society Capital and other co-investors to address specific gaps in the social investment market.
About the Somerset Social Enterprise Fund
The Somerset Social Enterprise Fund (SSEF) was a locally managed social investment fund designed to help voluntary, charity and social enterprise (VCSE) organisations in Somerset start new initiatives or grow successful ones to become more financially sustainable.
Find out more
You can read how our funding has made a difference to some social enterprises in Somerset here, and you can watch our film below where you can hear from some groups who have benefitted from the fund.