We commissioned Ekosgen to produce an this evaluation to understand and share the learnings from the UK’s first Local Impact Fund.
We hope it will be useful for Local Enterprise Partnerships and their partners, and help those looking to set up other Local Impact Funds under the 2014-20 European Structural and Investment Funds programme.
The findings included:
- The Fund successfully delivered against its overarching aims and objectives of using ERDF investment to provide a new financing option for the social economy.
- The Fund was well managed and the processes put in place should be used as a model of good practice in the roll out of future LIFs.
- The investments made were sound and had the ability to deliver job and GVA outputs as well as wider social impacts.
- An experienced Fund Manager with a strong track record in social finance and an experienced Investment Committee is fundamental to the success of future Local Impact Funds.