Making socially impactful arts, cultural and heritage organisations more enterprising and financially resilient.
The UK’s arts, cultural and heritage institutions provide creative opportunities, jobs and valuable income for our communities; they also have the power to transform people’s lives, engage marginalised individuals and drive social change. However, they face a challenge in securing the limited amount of grants available from public and private sources.
Nesta brought together a mix of public, private and philanthropic investors - Arts Council England, the National Lottery Heritage Fund, Big Society Capital, Bank of America, the Esmée Fairbairn Foundation, Freelands Foundation and Nesta – to create the Arts & Culture Impact Fund.
The fund combines concessionary and market rate capital to make affordable (3%-8.5% interest rates), flexible loans (ranging from £150,000 to £1 million) to arts, culture and heritage organisations that have a positive social impact on people and the communities they live in. It is now the world’s biggest impact investment fund for the creative arts.
Fund size£23 million
Big Society Capital commitment£3 million
Investment typeEnterprise debt
Fund managerNesta Impact Investments