The baseline report of the groundbreaking £2.5 Adventure Capital Fund, designed to help medium-sized community enterprises active within disadvantaged neighbourhoods to overcome the barriers to achieving scale and financial stability.

In early December 2002, the Home Office Minister, Lord Filkin, launched the Adventure Capital Fund (ACF). This fund provides the opportunity to pilot a range of approaches to investing directly in independent community-based organisations working in area of disadvantage.

Community enterprises are independent organisations which undertake social and economic activity and take as their area of benefit the neighbourhoods in which they are based or the communities they serve. The surpluses they generate are invested in local community or neighbourhood activity or are reinvested in the parent organisation. The aim of the ACF is to increase the capacity, accelerate the growth and secure the operational
base of these organisations.