£7m arts social impact fund pilots three-way investment model: "Bank of America Merrill Lynch, Esmée Fairbairn Foundation and Nesta have launched a £7m pilot social investment fund for arts organisations as an alternative to grant or private loan funding.
It is supported by Arts Council England and the Calouste Gulbenkian Foundation has provided additional funds for the Arts Impact Fund. It was convened by the Cabinet Office after research identified a £28m investment demand from arts organisations.
The funders describe the three-way funding model, with contributions from private, public and philanthropic funds, as ‘co-mingling’. A spokeswoman said they were not revealing how much each organisation had contributed to the fund. "
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