- This story was corrected on 2 September; please see final paragraph
The Big Lottery Fund’s £10m social investment support programme Big Potential, which was due to start this summer, will not go ahead as planned.
The BLF had chosen the business consultancy Exemplas to deliver the programme, but the two organisations both said they had decided to end their contractual relationship.
BLF said in a statement: "The Big Lottery Fund and Exemplas have decided to end their contractual relationship. The fund remains committed to continuing with an investment-readiness programme and bringing this much-needed support to the sector. The Big Lottery Fund is looking to start a new procurement process for this programme as soon as possible."
A spokeswoman for the BLF said Charity Bank had been subcontracted by Exemplas and was part of the same contract that will not go ahead. She said a new procurement process would begin in early autumn and the BLF was aiming for the programme to be available to charities by the end of this year.
Neither the BLF nor Exemplas would say why their relationship had broken down. A spokesman for Exemplas said it had happened over the past week or so.
The Big Potential programme was previously referred to as the Investment Readiness Fund. It is a three-year fund worth £10m.
It is aimed at helping voluntary, community and social enterprise organisations access new revenue streams through social investment.
- The story originally said that the Investment Readiness Fund is being delivered on behalf of the Office for Civil Society with support from Deutsche Bank. In fact it is run entirely by the Big Lottery Fund.