International law firm Trowers & Hamlins has advised on the successful £6.25 million first close for Greater Cambridge Impact (GCI), a new place-based social impact initiative focused on addressing some of the region’s most persistent social challenges.
The first close enables GCI to move from development into delivery, deploying long-term capital with a disciplined focus on outcomes, prevention and systems change across Greater Cambridge. The funding has been raised from a coalition of partners including Better Society Capital, Esmée Fairbairn Foundation, Cambridge City Council, Cambridgeshire & Peterborough Combined Authority, The Cambridge Building Society, The Cambridge Pledge and Suranga Chandratillake, together with the Church of England’s Social Impact Investment Programme.
GCI will be overseen by a Board bringing together local government, civic leadership and long-term stewardship to ensure the initiative remains grounded, accountable and focused on impact. The first close marks a significant milestone as GCI works towards its £10 million target.
Trowers & Hamlins advised on multiple aspects of the first close and fundraising structure, supporting both the debt and equity elements of the funding structure as well as the associated regulatory framework. Imogen Fisher advised in respect of the debt investments structured as social loans from Better Society Capital and Esmée Fairbairn Foundation. Ian Dobinson advised on the equity investments from Cambridge City Council, Cambridgeshire & Peterborough Combined Authority and The Cambridge Pledge. Jessica Arczynski advised in relation to subsidy control matters arising in connection with the public sector investment.
Karl Behrouz, Partner in the Corporate team at Trowers & Hamlins, commented:
"This initiative reflects the power of long-term, well-structured capital to address complex and systemic challenges. We are delighted to have supported the creation of a model that aligns diverse sources of investment behind a shared ambition to deliver measurable and sustainable social outcomes."
