Decision details

The report provides on the basis for this decision including an update on progress made on fundraising, investment pipeline development, governance and due diligence to establish Greater Cambridge Impact (GCI) and enable the first social investments to be made.

Cabinet resolved to approve the drawdown of the Councils £0.8m and approve the formalisation of its investment in Greater Cambridge Impact (GCI), following consultation with the Overview and Scrutiny Chairs and Vice-Chairs, and reassurance from the Chief Executive and Chief Financial Officer that governance arrangements are in place and due diligence is complete