Impetus - the Private Equity Foundation grants £2.8m to three charities working with young people

Resurgo, the Access Project and Action Tutoring will receive £1.2m, £840,000 and £800,000 respectively

Grants for charities that work with young people
Grants for charities that work with young people

The venture philanthropy charity Impetus – the Private Equity Foundation has made grants totalling just over £2.8m to three charities that work with young people.

Impetus-PEF said the funding was part of a wider package of support for the three charities worth a further £5.2m, which meant the charities would receive investments totalling £8m over three years.

This represented England’s largest venture philanthropy funding package, Impetus-PEF said.

The three charities – Resurgo, the Access Project and Action Tutoring – will receive £1.2m, £840,000 and £800,000 in grants respectively.

The additional support that the charities will receive includes strategic management advice and pro bono support from companies including law firms and management consultancies.

Venture philanthropy takes the concepts of venture capital and uses them to generate a social rather than financial return.

Julia Grant, chief executive of Impetus-PEF, said: "At a time when charities are under increasing operational scrutiny, the principles of venture philanthropy have never been so pertinent."

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