News
New research shows CAN Breakthrough as proven model for scaling up social enterprise.
23 June 2011
A powerful new study by the European Venture Philanthropy Association (EPVA) shows CAN Breakthrough as an effective and established model for financial institutions...A powerful new study by the European Venture Philanthropy Association (EPVA) shows CAN Breakthrough as an effective and established model for financial institutions to engage their employees’ commercial skills and channel their philanthropic activities.
Launched in 2006 Breakthrough invests grant and management intervention into scalable social enterprises. Since its establishment in 2006, the financial turnover of the portfolio organisations has increased, on average, by 20% per year, whilst the social impact has grown, on average, by 30% a year.
CAN’s significant sector reach and expertise alongside their role as strategic partner to the Cabinet Office advising on social entrepreneurship, made it a valuable partner for founding funders, the European private equity firm Permira. “We believe CAN to be a real authority in understanding the issues facing social enterprises. For us, they are a window onto the social enterprise sector,” said Damon Buffini, Permira partner, at the Breakthrough launch.
CAN Breakthrough made its final investment with Permira funds in April this year. In May CAN announced a £500k co-financing deal into the award-winning social enterprise Cool2Care to support its work helping disabled children and their families. The £150k grant from CAN Breakthrough helped catalyse the deal alongside social investors Venturesome and Big Issue Invest providing the loan element. To read more about the deal click here.
For more information on CAN Breakthrough contact Richard Kennedy at r.kennedy@can-online.org.uk