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.
Key Objectives
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.
Impetus has the ambition, focus and very particular experience to make a huge difference to the charities it works with. I am totally confident that my investment in Impetus will be put to really good use.
Hugh Lenon
Managing Partner of Phoenix Equity Partners and Impetus donor