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Key Fund has taken on management of Greater Manchester Centre for Voluntary Organisations’ Growth Fund, Enterprising Communities Fund and Local Access Programme Key Fund has taken over three social investment…
Key Fund has taken on management of Greater Manchester Centre for Voluntary Organisations’ Growth Fund, Enterprising Communities Fund and Local Access Programme
Key Fund has taken over three social investment funds formerly managed by Greater Manchester Centre for Voluntary Organisations (GMCVO) after it entered administration in 2024.
The organisation will now manage the GMCVO’s Growth Fund, Enterprising Communities Fund and Proper Good Investment Fund.
Key Fund, a social impact company investing in community and social enterprises with a particular focus on disadvantaged areas, has taken over management of the funds after sustained work between GMCVO’s funders and administrators.
Key Fund has been investing in the Greater Manchester area for over 15 years so are well placed to support.
GMCVO’s main funders and investors, Access – The Foundation for Social Investment, Better Society Capital, Greater Manchester Combined Authority and the National Lottery Community Fund are grateful to all parties involved in finding a solution and to Key Fund for their willingness and efforts to make this a reality.
This outcome will ensure continued support for local social enterprises, and that any existing loans are managed by an investor with an understanding of the sector and a commitment to impact.
Key Fund will continue to work with funders and local partners to support enterprises in the region to generate impact moving forward.
Matt Smith, CEO of Key Fund, said: “We were saddened to hear of the challenges at GMCVO and the impact on the social enterprises in the area, we have worked with funders to find a solution and look forward to engaging with partners and funders over the coming months as we explore new opportunities to further support Greater Manchester. We note with regret this has been a difficult time for former staff and stakeholders, but hope that the outlook is now more positive for the sector in the region.”
ENDS
About Key Fund
Key Fund was founded in 1999. We put people at the very centre of everything we do. We invest in organisations ambitious to see their communities transformed. We have made over 3000 investments in the last 25 years of totalling £57 million staying true to our mission of the right kind of money at the right time across the North of England and the Midlands.Read more: thekeyfund.co.uk/about-us/
Access – The Foundation for Social Investment
Access works to make sure that charities and social enterprises can access the finance they need to sustain or grow their impact.
Designed to ‘disrupt’ the existing social investment market and widen its reach into places and communities that were previously excluded, we target those most in need of patient and flexible investment through:
About Better Society Capital
Better Society Capital is the UK’s leading social impact investor. Our mission is to grow the amount of money invested in tackling social issues and inequalities in the UK. We do this by investing our own capital and helping others invest for impact too.
Since 2012, we have helped build a market that has directed more than £10 billion into social purpose organisations tackling issues from homelessness and mental health to childhood obesity and fuel poverty, a twelve-fold increase in 12 years.
Greater Manchester Combined Authority (GMCA)
The Greater Manchester Combined Authority (GMCA) is made up of the ten Greater Manchester councils and the Mayor of Greater Manchester, who work with other local services, businesses, communities and other partners to improve the city-region.
The GMCA is run jointly by the leaders of the ten councils and the Mayor of Greater Manchester, Andy Burnham. The Chief Executive of the GMCA is Caroline Simpson. A variety of boards, panels and committees look specifically at areas like transport, health and social care, planning and housing.
The GMCA gives local people more control over issues that affect their area. It means the region speaks with one voice and can make a strong case for resources and investment.
About The National Lottery Community Fund
We are the largest non-statutory community funder in the UK – community is at the heart of our purpose, vision and name.
We support activities that create resilient communities that are more inclusive and environmentally sustainable and that will strengthen society and improve lives across the UK.
We’re proud to award money raised by National Lottery players to communities across England, Scotland, Wales and Northern Ireland, and to work closely with government to distribute vital grants and funding from key government programmes and initiatives.
As well as responding to what communities tell us is important to them, our funding is focused on four key missions, supporting communities to:
1. Come together
2. Be environmentally sustainable
3. Help children and young people thrive
4. Enable people to live healthier lives.
Thanks to the support of National Lottery players, we distribute over £600 million a year through 13,000+ grants and plan to invest over £4 billion of funding into communities by 2030. We’re privileged to be able to work with the smallest of local groups right up to UK-wide charities, enabling people and communities to bring their ambitions to life.
National Lottery players raise over £30 million each week for good causes throughout the UK. Since The National Lottery began in 1994, £49 billion has been raised and more than 690,000 individual grants have been made across the UK – the equivalent of around 240 National Lottery grants in every UK postcode district.