Social Impact Report

Let’s Get Started Download Full Report

“It’s my strong belief that our sector, along with the voluntary and community sector in the broader sense, is key to making change and to narrow the inequality gap.”

Sam Keighley

View all our Case Studies

Total Impact

Just over

Awards made 1 April 2020 – 31 March 2021;
  • Loan – £1.6m
  • Grant - £3.7m
  • Average award Size - £40K
  • Leverage - £2.3m
  • New Jobs – 34
  • Jobs Safeguarded – 37
  • Businesses Created – 9
  • Businesses Sustained – 125
  • Total Impact – Just over £32m
Total for 21 years up to and
including 31 March 2021;
  • Grant £0m
  • Loan £0m
  • Businesses Created 0
  • New Jobs 0
  • Leverage £0m
  • Businesses Sustained 0
  • Jobs Safeguarded 0

IMD Data – Indices of Multiple Deprivation
33% of our investments are in the 10% most deprived communities.


Equity, Diversity, and Inclusion Statement

At Key Fund we are passionate about supporting the creation of resilient and successful communities where everyone feels able to participate fully in civic, economic, and social life.

We believe that to achieve our mission, equity, diversity, and inclusion must be at the heart of everything we do. This is not only about diversity in our team. It is also about how we embed equity, diversity, and inclusion in what we do. This embraces how we work, who we work with and stepping up to challenge and address structural inequalities in our society.

Rachel Veitch-Straw

Gemma Griffin

We consistently score highly with staff for our inclusive and welcoming work environment

Karen Hobson

Our commitment to be the best version of ourselves

After 21 years and with over £60 million invested we have achieved so much, but in a world where inequality is clearer than ever, we are asking ourselves ‘are we leaving anyone behind’? Like many others, we are on a journey to challenge ourselves and the status quo to ensure that we offer the right support for all our communities to thrive.

With this in mind, we are currently reviewing who we invest in, and how, so we can continue to extend our investments in traditionally excluded or marginalised communities.

We consistently score highly with staff for our inclusive and welcoming work environment and to make sure our policies and practice are consistently responding to everyone’s needs we are setting up regular employee surveys. We are also reviewing our recruitment process from start to finish to ensure that we are doing everything possible to attract candidates that reflect the diversity of the communities we serve. We are committed to fostering diverse talent and removing barriers to entering and progressing in the financial sector, including setting up new training schemes for young people from. traditionally underrepresented backgrounds in the social investment sector.

We are committed to the action we need to take, including speaking openly about our current limitations, seeking out diverse views and speaking out when we see inequality. We are determined to be the best version of ourselves and to be a pioneer in and for our sector. It is only by using all our diverse skills and experience that we can affect real change that benefits everyone.

We put people at the heart of everything we do

They make us who we are and by default how we deliver our mission. We work on mutual respect; each team member is valued for their unique skills.

A belief in fairness underpins Key Fund’s actions. We strive to make equality and diversity systematic throughout our organisation.

We’ve worked hard to diversify our staff team, our Board of Directors, and the members of our investment panel.

There is just a 3.4 ratio between the lowest and highest paid members of our team. We have no disparity in pay between people in the same role. On average a female employee at Key Fund earns 3% more than the average male salary.

Our board now comprises of more women, than men. It’s important to us that our Key Fund family reflects the communities in which we work.

As trusted advisors, our clients’ concerns and priorities are ours too.

There’s still work to do to deepen and strengthen our diversity. We continually strive to work in a way that supports our vision, mission and values, to deliver the right money to the right people, in the right way.

James Heeley

SESF – Social
Support Fund

When the COVID-19 pandemic hit, our main focus was on assisting our Clients, and so we worked quickly to change loan terms, whilst also providing practical support and signposting. However, through our detailed understanding of our investees business models, and conversations with them, we knew that this would not be enough and that the majority needed further financial support to survive in a period of unprecedented uncertainty. Further, we also understood that our traditional loan and blended grant and loan products would not be appropriate for most, and so we made the strategic decision to go back to our initial roots and grant making.

Working together with partners, Big Issue Invest, Resonance, the School for Social Entrepreneurs (SSE) and UnLtd, we set out to raise such funds, and ultimately we were successful in securing much needed grant funding from The National Lottery Community Fund.

This enabled the partnership to launch the Social Enterprise Support Fund in July 2020, delivering 618 grants, totalling £18.7m, over the next three months to social enterprises across England. We wanted to ensure that the funds were routed to the individuals and communities most impacted by COVID-19 and so we set ambitious targets around inclusion, which we were delighted to exceed.

Details of the standalone grants made by Key Fund directly can be found below:



Average award


We also supported the
delivery of 0 grants,


for Power to Change


of awards went to organisations where a majority of the Board had lived life experience of the issues beneficiaries were facing


of the awards were in the


most deprived communities.


of grants went to organisations led by a Women


of organisations supported were focused on providing services to disabled communities


of organisations supported were focused on providing services to Black, Asian and Minority Ethnic communities