The Adventure Capital Fund (ACF) welcomes the government’s pledge to

invest in community enterprises through a £70m Communitybuilders fund,

unveiled in the Department for Communities and Local Government’s (DCLG)

Empowerment White Paper today.

The White Paper has outlined plans to put the fund out to tender, which ACF supports. ACF firmly believes that through a thorough tender process the sector can achieve the best results and creative ideas, to ensure community enterprises are receiving the investment required to lay firm roots in the neighbourhood in which they operate.

Jonathan Lewis, ACF Chief Executive, said: “ This tender process will pave

the way for the creation of a new generation of community enterprises. Set up with strong foundations they will be capable of regenerating the UK’s most deprived communities, and will provide much needed services and

opportunities. “ACF will certainly be putting in a bid for the tender. We know there will be strong competition, which is great for the organisations the fund is designed to support. ACF will work hard to demonstrate its strong track record in making investments that deliver both social and financial returns.”

Stephen Bubb, Chair of the ACF, added: “It’s fantastic news. ACF is strongly

committed to developing community enterprises. Funding and capacity

building is vitally important to ensure this happens. There is a huge demand

for growing community enterprises and this fund is a real boost for the sector.”