UK-based venture philanthropy organisation Impetus Trust has made its first exit.
Speaking UP, a Cambridge-based charity that helps people with learning difficulties, disabilities and mental health problems, joined the Impetus portfolio from 2004 and has now exited after what the firm refers to as ‘substantial growth’. In the past four years the charity has grown from assisting 500 people to 3,000 people.
Impetus, which currently invests in 11 charities, made a four-year investment of £400,000 which enabled Speaking Up to grow from a small, mostly grant funded, low-profile organisation into a national organisation.
At a ceremony to celebrate the exit, Impetus presented Speaking Up with a model vintage car, the Napier Railton racing car, which made its name in turbo-charging in the mid 1930s and broke many speed records.
Speaking Up founder and chief executive Craig Dearden-Phillips said: “Impetus has enabled us to take bold steps and grow at a much faster pace than we would have otherwise. Our income has trebled since the start of the relationship and we’ve been able to help many more disabled people take control of their lives.”