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
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.