Five individuals from leading international private equity firms have joined the new Advisory Council of award-winning venture philanthropy charity, Impetus Trust.
The 18-member Advisory Council will meet twice a year to debate issues of strategic importance to society, consider how financial and political trends may affect the Impetus portfolio of charities and explore options for multiplying the impact of Impetus Trust.
Sitting on the Advisory Council are: Ian Armitage, chair, HgCapital; Alastair Gibbons, partner, Bridgepoint; Ryan Robson, former managing partner, Sovereign Capital; Joseph Schull, managing director, Warburg Pincus; and Richard Wilson, senior partner, Apax Partners.
The Advisory Council has been established by Impetus Trust Chief Executive, Daniela Barone Soares, and the next meeting, scheduled for November, will be chaired by Sir Ronald Cohen. Also sitting on the Council are leaders from the business, charity, academic and media sectors, including Ian Meakins, Chief Executive of Wolseley Plc, Martin Dickson, Deputy Editor of the Financial Times, Diane Jeffrey, Chair of Age UK, and Josh Lerner, Professor of Investment Banking at Harvard Business School.
Impetus Trust works to break the cycle of poverty by investing in ambitious charities and social enterprises that fight economic disadvantage. It uses a highly effective venture philanthropy model to accelerate the growth of carefully selected organisations so they can help more economically disadvantaged people to gain education, skills and jobs.
The Impetus Trust model includes strategic funding, hands-on support from the Impetus investment team and specialist support for capacity building from expert volunteers. Organisations backed by Impetus Trust have increased the average number of disadvantaged people they help by a staggering 40% a year.
In its first eight years Impetus Trust has raised £18m, delivered an average 31% growth in income for its first 12 investments and, via its portfolio, is helping more than 250,000 people a year. Its scale-up strategy through 2012/13 includes ambitions to raise £5.3m and maintain an active portfolio of 22 charities and social enterprises.