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Stephen Bubb appointed as Chair of Adventure Capital Fund |
Press release: embargo 25 August 2006
 Stephen Bubb appointed as Chair of Adventure Capital Fund 92.21 Kb
The Adventure Capital Fund, the agency delivering investment and business support to community-based social enterprises, has appointed Stephen Bubb as Chair of the Board.
Stephen Bubb, who is also Chief Executive of Acevo (the Association of Chief Executives of Voluntary Organisations), said: "I am delighted to be chosen for this exciting and important task.
"The ACF already has a terrific track record of investing in community organisations, building assets and launching new enterprises. The Fund is committed to achieving long-term and profound community transformation."
He added: "ACF's mixed investment models, accompanied by specialist business mentoring, have been pioneering. The Adventure Capital Fund has ambitions to grow tenfold from £15m to £150m in the coming 5 years. My aim is to make that happen."
Julia Unwin, who, as interim Chair of ACF, has steered the organisation through the process of incorporation and recruiting the new Board, said: "I am very pleased indeed that Stephen Bubb has taken on this role. The ACF has real potential, and Stephen is exactly the right person to ensure that it will be effective and robust as it grows in scale without losing the essential spirit of adventure along the way."
Notes for editors:
Set up four years ago as a partnership of the Development Trusts Association, Scarman Trust, Local Investment Fund and New Economics Foundation, the Adventure Capital Fund has received over £15m backing from across government including the Active Communities Directorate, Neighbourhood Renewal Unit, Social Enterprise Unit, and Phoenix Fund, as well as four regional development agencies (London Development Agency, East of England Development Agency, Yorkshire Forward, and East Midlands Development Agency).
The ACF provides community organisations with a range of grants and business mentoring to help them develop their enterprise ideas and become investment ready.
Approximately one third of the funds invested are provided in the form of grants and two thirds in the form of repayable finance including loans, 'patient' loans (ie with repayment holidays), and quasi-equity (eg profit sharing agreements).
Further information:
Sue Peters, Chief Executive Adventure Capital Fund: 020 7488 3455, email:
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website: www.adventurecapitalfund.org.uk
Or call
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on 07785387844.
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