Impact investors rally £1.9 million for London cinema



Inclusive Economy

“We see a real positive role that financially self-sustaining socially-minded arts organisations can play,” says Big Issue Invest’s James Salmon

PC: hackneyartscentre

Big Issue Invest, The Arts Impact Fund and Triodos Bank are allocating two-thirds of the funds needed to convert an old cinema in East London into a community theater and music venue.

The Hackney Arts Centre will become a hub for Community Music, an arts charity offering professional courses and a youth music program.

“We see a real positive role that financially self-sustaining socially-minded arts organisations can play,” says Big Issue Invest’s James Salmon. Nesta’s Arts Impact Fund committed £600,000 ($844,000) to Village Underground, the organization leading the project, last July.

The creative sector has attracted little impact capital. An exception is Artscape’s $21.4 million fundraise to build an art entrepreneurship hub in Toronto.

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