Postcode Innovation Trust invests £130,000 of match funding into three social impact organisations as part of their £500,000 commitment.
Ethex is pleased to announce that Postcode Innovation Trust, a grant-giving trust funded by players of People’s Postcode Lottery, has approved three applications for match funding from organisations currently listed on our positive investment platform.
Back in November 2020, we announced that we had secured £1 million in match funding and co-investment from Postcode Innovation Trust and MCS Charitable Foundation to support ethical businesses and help to build back better from the effects of the pandemic.
The announcement this week is the second deployment of funds from the £500,000 pledge from Postcode Innovation Trust into Ethex investments, having previously matched £120,000 of retail investments into the Common Ground Against Homelessness, Brighton and Hove CLT, Mustard Seed Property and Bristol Energy Cooperative share offers in 2020, all of which have successfully closed. Earlier this year, VocalEyes received £30,000 in investment from the charity.
This latest tranche of match funding will benefit three extraordinary organisations who are raising funds via community share offers on Ethex to help them continue to make a positive impact on lives and the planet.
will receive £30,000 of match-funding, which, when deployed alongside people’s individual investments, will take the share offer to around £250,000, just £50,000 short of their target raise that will enable the development of an innovative online booking system for British Sign Language interpreters that takes control of this service back into the hands of Deaf people and interpreters, providing fair pay and a system they can have confidence in.
And the next £50,000 invested into the Kindling Farm
share offer will be matched by Postcode Innovation Trust, taking their total to over £400,000, which is past the minimum they need for their project to proceed. The funds will enable them to purchase and develop a community-owned farm that will pioneer sustainable, wildlife-friendly methods to produce healthy, organic food.
£50,000 of investment will also be matched into the MindforYou
share offer by Postcode Innovation Trust, which when deployed will take them closer to their minimum raise of £275,000. By reaching their target raise of £450,000, MindforYou will be able to extend the reach of their fantastic organisation combatting the social isolation experienced by people living with dementia, their loved ones and carers. Their vision is to provide even more people with quality holidays and leisure opportunities, bringing wellbeing, joy and relaxation for all.
Supported by Postcode Innovation Trust, these investments demonstrate how match funds can work as a significant multiplier in impact investing. This funding will help to leverage additional investment from individuals, delivering the critical finance these organisations protecting people and the planet urgently need to deliver on the UK’s climate change ambitions, at the same time as presenting value for communities hit hard by the COVID 19 pandemic.
Laura Chow, Head of Charites at People’s Postcode Lottery, said: “I’m delighted funding raised by players of People’s Postcode Lottery is supporting these three fantastic causes, enabling them to create a positive impact on the lives of the people and the communities they’re supporting.”
Lisa Ashford, CEO of Ethex commented: “We’re excited to make the announcement of this tranche of match funding deployment from Postcode Innovation Trust into three highly impactful organisations that are making a positive difference to people’s lives and the environment.
This perfectly demonstrates how this type of blended finance can act as a significant catalyst for the sector by leveraging more investment from individuals who now more than ever want to have impact with their money.”