Acumen is based in North East England and promotes social and economic regeneration through learning, enterprise and employment.
Impetus support package
Investment period: 2008 - 2009 (Plan phase investment*)
Plan phase grant funding: £25,000
Pro bono services donated: £40,854
Investment management value: £24,969
Total funding package: £90,823
* Plan phase investment is an initial investment period to develop the plan for growth. It is usually followed by further investment over a longer period.
Background to the investment
Acumen had grown rapidly in the last three years, having developed an integrated model of supporting adults who are long-term unemployed on a journey back to employment. Our goal is to support Acumen to further develop its model so they can become a leading player in the area of employability.
The key objective was to help prepare Acumen for its scale-up to become a leading national player in the area of employability. This involved:
- defining the organisational structure and addressing gaps in the senior management team
- implementing more robust financial systems and reporting
- refining the delivery model
After review, both parties felt that Acumen could continue its development without further support from Impetus.
Managing Partner of Phoenix Equity Partners and Impetus donor