Decision details

Cabinet has created a Camden Community Wealth Fund (CWF) – a mission-driven, social investment fund that will provide investment for people, businesses and organisations in Camden that are delivering on our missions, to develop their ideas, grow their businesses, and maximise their impact.

The Fund will formally launch next year and will support people and organisations that are focused on tackling the We Make Camden Missions and in particular the Young People and the Diversity Missions. In its first phase, it will do this by providing repayable long-term loans to help people that want to make a positive impact on the Borough start or grow a business in Camden. It will also provide other support including wrap-around business support. Applications from businesses to source investment will go live in the spring of next year.

This report recommends the establishment of 2 CWF Pilot Schemes for the first phase of the Fund. The Pilot Schemes will test 2 distinct Participation Approaches designed to empower our residents to feed into Investment decisions in a meaningful way and create a sense of “Community Ownership” of the Fund.

THAT the Executive Director of Corporate Services

1.             approve the launch of the 2 CWF Pilot Schemes set out in section 2 of this report to test 2 participation approaches designed to empower our residents to feed into CWF investment decisions.

2.             allocate a budget of £5,000,000 (five million pounds) for the 2 CWF Pilot Schemes.