SE Assist aims to link large businesses and their employees with local social enterprises through a community investment model.
SE Assist is a collaboration between the Charities Aid Foundation (CAF) and Legal & General.
They will test a model that will see local Social Enterprise Funds being set up and managed by multi-stakeholder Investment Committees. The committees will include a mix of Legal & General employees, CAF and representatives from local bodies, charities and enterprise partnerships. The Investment Committees will select and support the investments in local social enterprises. The aim is to increase levels of giving and support. This can be a combination of social investment, employee engagement and mentoring.
CAF and Legal & General have specific expertise and influence in the areas of community investment, social investment and supply chains. They want to bring new approaches to these areas: community re-investment, early stage social investment and open supply chains.
Legal & General will make available £50,000 annually for equity investment and, should the proof of concept be successful, the team hope to raise equity funding from multiple businesses and employees in the future.
The model will be tested in Brighton and Hove before rolling it out nationally.
CAF and Legal & General have been awarded £65,000 for the SE Assist project. This is to build and test this new investment and employee engagement model in Brighton and Hove and also to fund expert social enterprise consultants for the social enterprises.
Corporate Advisory Manager