Nesta launches Arts and Culture Impact Fund
Nesta has launched a new impact investment fund for the UK’s arts, culture and heritage organisations.
The Arts and Culture Impact Fund will invest in organisations of all sizes that demonstrate a clear social impact. It offers repayable finance of between £150,000 and £1 million, with a repayment term of one to 10 years and interest rates ranging between 3% and 10%.
The aim of the fund is to help organisations to innovate and grow and become more enterprising and financially resilient. It takes a relationship-centred approach, structuring loans to meet the needs of individual organisations. Alongside the investment capital, investees will also benefit from a tailored package of support from Nesta and its partners, including business insights and opportunities.
Impact investment aims to provide organisations with capital for both a financial and social return. Nesta’s previous impact investment funding has supported organisations like InHouse Records to deliver its prison work in the community, with a focus on prevention.
Image courtesy of Arts & Culture Impact Fund, Nesta