How David secured a £1m investment within 3 months for a charity.
In July 2015 I was contacted by the charity Family Action which wanted to raise funds for a pilot service for children in care.
Applications to both the Commissioning Better Outcomes Fund and Department for Education Children’s Social Care Innovation Fund had not succeeded, but the Chief Executive was determined not to let go of the idea.
Offering 20 days consultancy, I worked with the leadership team to develop a new model for the service and a new funding structure.
We produced a professional prospectus and presented the proposal in September to an invited audience of potential funders. The seminar was hosted by Big Society Capital and a supportive commissioner attended to answer questions.
Within two weeks of the seminar, Family Action had received four offers for a £1m investment. My assignment having been completed (in just 19 days), I stepped back to allow the CE and executive team to negotiate directly with the investors.
Two investors came together to provide funds in a three-way sharing of risk with the charity. In addition, one of the investors, a grant making trust, provided an additional grant for an evaluation of the service.
David Holmes CBE, Family Action Chief Executive, said:
“David’s intensive consultancy guided our team through various finance options that would make our proposition more attractive to investors. With his help we secured funding for a fantastic new service. Understanding how to combine funders’ needs with our passion for the service and ability to deliver was an ‘Open Sesame’ moment.”
The service went live in August 2016.