Deadline: 22 September 2023
Applications for the forthcoming First-Time Fund Manager Incubator Programme are now open.
Pathway Fund is a new initiative to catalyse opportunities for Black and Ethnic-Minoritised communities, across England, through social investment. Pathway Fund is committed to unlocking investment into black and minoritised communities.
Pathway Fund is seeking three organisations to join the 18-month programme starting in Autumn 2023. With tailored support and grants, this bespoke training will enable Black and Minoritised-led fund managers to raise their first Investment fund.
First-time fund managers face multiple barriers in launching a fund. These can be more acute for those from a Black and Minoritised background. Research shows that less than 1% of asset managers in the UK identify as Black. As a new impact investment wholesaler focused on racial equity, Pathway Fund wants to unlock that investment sooner. They want to increase the amount of capital managed by diverse-led organisations.
Funding Information
- Each will receive £50,000 in unrestricted grants and will receive training over a period of 18 months.
- The programme will run in three stages:
- Stage 1: Introduction (November 2023 – January 2024)
- Stage 2: Bespoke Consultancy and Coaching (February – October 2024)
- Stage 3: Graduation and post-programme support (November 2024 – April 2025)
Eligibility Criteria
- Representation: At least 51% of your team will self-identify as coming from Black or Ethnically minoritised communities.
- Track record: This will be your first fund. Experience investing in enterprises e.g. as an angel investor, is preferred. You will have an investment thesis and potentially a pipeline of enterprises, especially Black and Ethnic Minoritised-led enterprises.
- Fund size: You should be attempting to raise over £10m, with a focus on funds that have the potential to scale. Your fund should be UK-based, and at least 50% of the fund will be deployed in the UK.
- Product: Minimum level (51%) funding will be deployed as a repayable investment.
- Team: Teams of two or more people who have worked together for more than 3 months is preferred.
For more information, visit Pathway Fund.
