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£60,000 of match funding invested into Bridport & LATCH
Ethex is pleased to announce that Postcode Innovation Trust, a grant-giving trust funded by players of People’s Postcode Lottery, has approved two further applications for match funding from organisations currently listed on our positive investment platform as part of their £500,000 commitment.
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 to scale and grow, benefiting the environment and society.
Today, we have deployed £30,000 of the Postcode Innovation Trust match funding into the Bridport Housing community share offer and £30,000 into the Leeds Action to Create Homes (LATCH) community share offer.
This means that every £1 invested into these offers will be matched up to the value of £30,000 each, giving our community of positive investors double the impact for their investments.
Bridport Cohousing has launched a community share offer to raise £382,000 to help them create a supportive cohousing community that encourages sharing and social interaction between members. The money raised from the share offer will help complete the cohousing development in Dorset that will offer an alternative, socially connected and sustainable way of life where neighbours support and share with one another.
LATCH are currently over-raising on their community share offer, aiming to reach their maximum target of £550,000 in order to take a further 8 derelict homes and restore them to energy-efficient, quality affordable and supported homes for people with a desperate need for housing in Leeds, while providing vital training and employment opportunities.
By deploying these match investments from Postcode Innovation Trust, we will help to leverage additional investment from individuals, delivering the critical finance these organisations need to grow and continue to make a positive impact on people’s lives and the environment.
Laura Chow, Head of Charites at People’s Postcode Lottery, said: "Supporting charities and social enterprises to increase their social and environmental impact is central to Postcode Innovation Trust’s mission. Therefore, we are delighted to be providing match-funding to these two fantastic organisations, who will use the investment to create lasting change in their communities."
Lisa Ashford, CEO of Ethex commented: “We’re excited to make the announcement of this latest tranche of match funding deployment from Postcode Innovation Trust into two 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.”
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