FINANCE NEWS: Community-based fund unveils latest renewal fund pool

The Adventure Capital Fund, the government-sponsored, community enterprise investment scheme, has announced details of its second round of funding.

In June the fund was given a further £4m by Home Secretary David Blunkett.

The new round of investment concentrates on crime reduction, neighbourhood renewal and building the capacity of black and minority ethnic groups.

Voluntary groups involved with children and young people, crime reduction, crime, employment, mental health and vocational training are invited to apply.

Financing will take the form of major investment, seed capital for new programmes or products, working capital to cover cashflow problems, and development grants.

The closing date for applications is the end of October.

The Adventure Capital Fund is a partnership comprising the ACU, Neighbourhood Renewal Unit, the Development Trusts Association, the New Economics Foundation and Scarman Trust.

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