Trust for London, City Bridge Foundation and Esmée Fairbairn Foundation have joined forces to create an innovative six-year £1.5 million social investment pilot designed to support Black and global majority-led community enterprises.
The new ‘Beyond Barriers’ facility comprises a powerful blend of patient, flexible catalytic capital and skills support.
It’s built around knowledge sharing and skills transfer from Sumerian Foundation, a pioneering impact-first investor, to BUD Leaders – a Black-led, female-led organisation based in South London.
BUD Leaders will receive tailored support to build capacity as a future social investor, developing the team’s ability to identify, support and fund minority-led social enterprises.
A group of Black and Global Majority-led community businesses will benefit from business and leadership support in various forms - the aim is to equip these enterprises with the tools, networks and finance they need to grow and thrive.
Beyond Barriers responds to the findings of the Adebowale Commission on Social Investment, which called for “comprehensive structural reform” to the social investment market.
The Commission called for more inclusive funding models and highlighted persistent barriers facing diverse-led enterprises – including a lack of flexibility.
Many global majority-led social enterprises face a lack of trust, understanding and access to social investment. This pilot aims to address those challenges by taking a more patient, relationship-driven approach.
It also aims to fill a gap in the social investment market for unrestricted grant funding, identified in 2023 research by ClearView Research — a Black-led agency — drawing on feedback from social enterprises supported by Sumerian Foundation.
The research, based on feedback from social enterprises, highlighted that many need unrestricted grant funding before they are in a position to take on social investment.
ClearView Research will be the learning partner evaluating the pilot. They will act as a critical friend and thought partner throughout the pilot, ensuring learnings are captured and meaningfully applied to strengthen the pilot’s impact.
Douglas Gunn, Director of Social Investment at Trust for London, said:
“This pilot is an important experiment in how trusts and foundations can work together more effectively to get funding to smaller, frontline organisations that too often miss out. At its heart, it’s about passing power to the communities affected by the issues we’re trying to solve.
“What’s really exciting is the potential for this pilot to lead to what would be the first Black female-led social investment fund, that we know of. We hope that it will pave the way for similar models in other regions and sectors.”
Gillian Dickson, Social Investment Manager at Esmeé Fairbairn, said:
“Working alongside Trust for London and City Bridge Foundation, we are excited to support this new approach to social investment, utilising the patience and flexibility that our combined impact-first, long term capital permits.
“This will be Esmee’s sixth investment aimed at increasing inclusivity and participation in social investment and takes our work to a deeper level by supporting Sumerian and BUD to give communities more say in how funding works to create more resilient organisations.”
Tim Wilson, Social Investment Fund Manager at City Bridge Foundation, said:
“Beyond Barriers is a great example of how trusts and foundations like ours can work together to harness our resources to empower organisations which are deeply rooted in the communities they serve.
“It’s about working collaboratively and innovatively, using a mixture of grant and social investment funding, to try and overcome some of the barriers which for too long have hampered organisations and entrepreneurs from global majority communities seeking social investment.”
Amy Gutcher, Chief Financial Officer at Sumerian Foundation, said:
“This pilot reflects the principles of impact-first investing - addressing deep-rooted barriers to social equality by backing community-rooted solutions with the trust, flexibility and long-term support they need to thrive.
“At Sumerian, we know social investment must offer more than money. That’s why we’re proud to share our knowledge, networks and experience with BUD Leaders – helping to grow a new generation of social investors and unlock the full potential of Black and Global Majority entrepreneurs.”
Georgina Wilson, Founder and CEO of BUD Leaders, said:
“At BUD Leaders, we are proud to be part of this transformative initiative that aligns with our mission to empower Black and Global Majority-led enterprises.
“This pilot programme takes bold action to dismantle systemic barriers and create more opportunities for minority-led social enterprises to thrive.
“Together with our esteemed partners, we are developing and driving a powerful movement toward a more inclusive and equitable social investment landscape, equipping enterprises with the resources, networks, and support they need to achieve success!”
Dr. Kenny Imafidon MBE, Managing Director of ClearView Research said:
“We’re proud to be the learning partner for this new fund that’s not only investing in impactful organisations, but also in equity.
"This fund is about unlocking the potential of ethnic minority-led social enterprises that are too often overlooked but are more than capable of making significant impact socially and economically."
