CAF Venturesome wants to increase funds fivefold

Stephanie Sturrock, head of social investment at CAF, says the target of £50m is a challenging one

Stephanie Sturrock
Stephanie Sturrock

CAF Venturesome, the social lending arm of the Charities Aid Foundation, aims to grow to five times its current size, according to CAF’s new head of social investment.

Stephanie Sturrock, who was appointed in January, said the lender had about £10m in funds under management and wanted to raise that to about £50m.

She said Venturesome aimed to raise much of that cash from the 2,500 existing CAF trust account holders, who each hold at least £10,000 with CAF. Between them they hold more than £600m in CAF trust accounts.

Sturrock told Third Sector there was already substantial interest among CAF account holders.

"Many of our trust account holders are financially quite sophisticated," she said. "They can see the advantages of this. It allows them to use their money many times over."

She said the target was a challenging one and that CAF had not set a timescale to achieve it.

Venturesome first approached CAF trust holders last year in an attempt to raise its funds under previous director John Kingston. By November it had raised £3m.

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