The Stepping Stones Fund, a unique social investment readiness facility for charitable organisations in Greater London, has opened for its fifth round of funding.
Delivered by City Bridge Trust in partnership with UBS, the fund, which will be around £500k this time, aims to bridge the evident gap between grantees and investees and encourage organisations to make full use of the different types of finance which are potentially available to them if their capacity and products or activities are expanded.
Tim Wilson, of City Bridge Trust, says: "The sector is going through significant change in the way it secures funding, delivers services and in the way performance is measured and paid for. Social investment might be an appropriate financing route for some social sector organisations which are able to generate sufficient revenue. Stepping Stones seeks to provide targeted support in the form or grants and risk finance to test out the viability of different propositions. In this way, the fund helps to de-risk any future investment, whether it is by the City of London Corporation Social Investment Fund or any other fund."
The Stepping Stones fund will consider applications under two strands;'capacity building' and 'piloting better outcomes':
The deadline for first stage applications is 11th May. To find out more details about the fund and who can apply visit https://www.citybridgetrust.org.uk/what-we-do/social-investment/stepping-stones-fund/