New investor in Can's Breakthrough fund

Private equity investor SVG Capital has joined fellow fund Permira as an investor in Can's Breakthrough social enterprise fund.

It has committed £40,000 a year to the fund for up to five years. The fund was founded in 2005 to improve business skills and invest funds in established social enterprises.

There are currently five social enterprises in the Breakthrough portfolio, with two new investments planned for later this year.

"We hope the grant will help to develop a number of social enterprises and provide them with the support they need to grow," said Nick Ferguson, chair of SVG.

Adele Blakebrough, chief executive of CAN, said: "We are delighted SVG is contributing to the Breakthrough fund, and it's exciting that it recognises the importance of supporting social enterprise.
 
"This self-sustaining business model has become a vibrant part of our enterprise culture. Their business-like approach to generating social change makes them an attractive investment for a growing number of venture philanthropists."

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