Policy

28 January, 2008

Cabinet Office announce appointment of ACF to manage Futurebuilders Fund

£215 million to develop public service delivery by third sector

The Cabinet Office today announced the appointment of the Adventure Capital Fund (ACF) to manage the second phase of the Futurebuilders Fund. ACF will be responsible for investing an additional £65 million of government funds, on top of the £150 million already made available, to develop public service delivery by the third sector between 1 April 2008 - 31 March 2011.

Since its launch in 2004 the Fund has provided loans and grants to support charities, voluntary groups, social enterprises and other third sector organisations to develop their capacity to deliver better public services.

The first phase focused on developing services in five key areas; children and young people, community cohesion, crime, health, and education. From 1 April 2008 the second phase will open up the Fund to bids from third sector organisations delivering any public service.

Commenting on the announcement, Minister for the Third Sector, Phil Hope said -

'It is important that third sector organisations who want to deliver public services have the opportunity to do so. Many have a unique focus, specialist knowledge and the ability to reach some of the most vulnerable people in society. The second phase of Futurebuilders will bring new challenges for the fund manager but ACF has demonstrated great ability and enthusiasm to take on this challenge. I have no doubt that they will build on the success of the programme to date and the ground-breaking work undertaken by Futurebuilders England in the first phase.'

For more information, see the Cabinet Office press release Adventure Capital Fund to run £215m Futurebuilders Fund.

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