Foundation for Good Receives £272,500 Boost from Northstar Ventures
Deal News | Dec 23, 2024 | Northstar Ventures
Northstar Ventures has finalized an investment from their North East Social Investment Fund to benefit the Foundation for Good by contributing £235,000 alongside a £37,500 grant from the Community Foundation Tyne & Wear and Northumberland. This investment funds the redevelopment of the charity's headquarters in Consett, aiming to enhance its educational services, boxing training, health and wellbeing provisions, and food bank operations. Foundation for Good, led by CEO Fraser Neill, has been instrumental in transforming local lives through these multifaceted services. In addition to Northstar's investment, the project received support from the UK Government's Community Ownership Fund and several other local and regional partners. These efforts underscore the importance of social investment initiatives that amplify the capabilities of community-focused organizations. This collaboration reflects the mission of Northstar Ventures and its partners, such as Big Society Capital and the Community Foundation Tyne & Wear and Northumberland, to harness financial resources to drive social impact in northern England. The investment aims to significantly increase the Foundation for Good's capacity to deliver essential community services, thereby elevating the quality of life in the areas it serves.
Sectors
- Social Investment
- Venture Capital
- Charitable Organizations
Geography
- United Kingdom – The article centers around UK-based companies, charities, and initiatives targeting social impact.
- North East England – Specifically references the investment in a charity based in Consett, North East England, highlighting regional focus.
Industry
- Social Investment – The article discusses funding for a social enterprise aimed at community development and social impact.
- Venture Capital – Involves Northstar Ventures, a venture capital firm making strategic investments in social enterprises.
- Charitable Organizations – Involves multiple charities providing grants and funding aimed at achieving social and community betterment.
Financials
- £272,500 – Total funding for the Foundation for Good, comprising £235,000 from Northstar Ventures and a £37,500 grant from Community Foundation.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Northstar Ventures | Investor | Company | A venture capital firm focusing on high growth SMEs and social enterprises in North East England. |
| Foundation for Good | Beneficiary | Charity | A charity based in Consett focused on education, boxing training, wellness services, and food bank operations. |
| Community Foundation Tyne & Wear and Northumberland | Granter | Charity | Community foundation providing grant funding to local charities and initiatives in North East England. |
| Fraser Neill | CEO | Person | CEO and founder of Foundation for Good, instrumental in its mission and growth. |
| UK Government | Supporter | Government | Provided funding through the Community Ownership Fund. |
| Big Society Capital | Backer | Company | A social investment infrastructure organization aimed at tackling social challenges in the UK. |
| Joseph Rowntree Foundation | Backer | Charity | Independent organization aiming to inspire social change. |