Foundation for Good Gets a £272,500 Boost from Northstar Ventures
Deal News | Dec 23, 2024 | Northstar Ventures
Northstar Ventures has finalized its North East Social Investment Fund investment by adding £272,500 into Foundation for Good, a charity based in Consett. The investment split comprises £235,000 from Northstar Ventures and a £37,500 grant from the Community Foundation Tyne & Wear and Northumberland. The funding aims to transform the charity's headquarters in Consett, enhancing their alternative educational services, specialist boxing training, and health and wellbeing offerings. The redevelopment also includes a boost to the food bank operated by the charity. This is part of an ongoing effort led by CEO Fraser Neill, whose commitment to using boxing to address mental health issues is integral to the charity's mission. Foundation for Good is backed by a diverse range of partners which, apart from the aforementioned investors, include GroundWorks UK, Sir James Knott Trust, UK Government’s Community Ownership Fund, Point North, The Barbour Foundation, and The 29th May 1961 Charity. Northstar Ventures, a venture capital company focusing on social enterprises in North East England, manages the North East Social Investment Fund which prioritizes investments in impactful social enterprises.
Sectors
- Venture Capital & Social Investment
- Charity & Non-Profit
- Education and Training
Geography
- United Kingdom – The article centers around entities and activities located in the UK, specifically noting investments in the North East of England.
- North East England – Both Northstar Ventures and the charity Foundation for Good operate in North East England, focusing on regional development and social impacts within this area.
Industry
- Venture Capital & Social Investment – The article discusses Northstar Ventures, a venture capital firm, investing in Foundation for Good through their North East Social Investment Fund, which focuses on social enterprises and impactful investment.
- Charity & Non-Profit – The article features Foundation for Good, a charity based in Consett that offers social services including alternative education and health and wellbeing services.
- Education and Training – Foundation for Good provides alternative educational services and specialist boxing training as part of its service offering, highlighting the sector's involvement.
Financials
- £272,500 – Total investment sum into Foundation for Good, combining Northstar Ventures' £235,000 and a £37,500 grant from Community Foundation Tyne & Wear and Northumberland.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Foundation for Good | Target | Charity | A charity based in Consett, offering alternative education, boxing training, and operating a food bank. |
| Northstar Ventures | Investor | Company | A venture capital firm based in the North East of England, focused on investing in social sector organizations. |
| Community Foundation Tyne & Wear and Northumberland | Grant Provider | Charity | Organisation providing a grant to support Foundation for Good's redevelopment project. |
| Fraser Neill | CEO & Founder | Person | CEO and founder of Foundation for Good, passionate about using boxing to promote mental health. |
| UK Government | Supporter | Government | Provided support through the Community Ownership Fund for the building project. |
| GroundWorks UK | Supporter | Charity | A charity partner providing support for the building project. |
| Sir James Knott Trust | Supporter | Charity | A foundation that provides financial support for charitable endeavors. |
| Point North | Supporter | Charity | Part of the consortium supporting Foundation for Good's redevelopment. |
| The Barbour Foundation | Supporter | Charity | Provides grants and support for charitable projects. |
| The 29th May 1961 Charity | Supporter | Charity | A charitable trust supporting various philanthropic endeavors. |