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Communal Studio Images courtesy Studio Voltaire Photo FRENCH+TYE

Investment

Studio Voltaire

The leading not-for-profit arts and education organisation approached Figurative for an investment to support its operations following a major capital development project.

Region

London

Discipline

Visual Arts

Investment size

£150,000

Studio Voltaire is one of the UK’s leading not-for-profit arts and education organisations. Founded in 1994 by a collective of artists, it began in a disused tram shed on Voltaire Road, Clapham to provide affordable workspace and host exhibitions, symposiums, events, open studios and parties. In 1999, the collective moved to its current location on Nelsons Row in Clapham, a larger site just off Clapham High Street, enabling the group to expand provision of affordable artist studios, host a dedicated gallery space and increase community partnerships.

Since the early 2000s, the organisation has evolved from a local artist-run collective to an internationally known arts organisation supported by Arts Council England as a National Portfolio Organisation.

Studio Voltaire’s programmes champion emerging and underrepresented practices. Placing great emphasis on risk-taking, experimentation and support for artists, the organisation’s pioneering exhibitions, collaborative projects, artist development, live events and offsite commissions have an important local and international reach. Programme strands:

  • Studios and Residencies: providing subsidised high-quality studios for 51 onsite artists and cultural workers, alongside dedicated residencies and professional development programmes.
  • Civic, Learning and Public Projects: Collaborating closely with artists, schools, health organisations and community groups to broaden access to art and creativity.
  • Exhibitions: Providing time, care and resources for emerging and underrepresented artists to create ambitious new work.

In 2010 Studio Voltaire launched House of Voltaire, commissioning and selling unique artworks, limited edition prints and specially-commissioned homewares, clothing and accessories by artists and designers of local and world notoriety. All purchases support Studio Voltaire’s artistic and public programmes.

The Opportunity

In October 2021 Studio Voltaire completed a £2.8 million capital project to expand and redevelop their site and programmes, the most ambitious transition in the organisation’s history.

The project offered an unprecedented opportunity to transform and expand Studio Voltaire’s support of artists, as well as its cultural offering to local and international audiences. This transformative development has:

  • Provided a 42% increase in affordable artists’ studio space
  • Increased public space by 233%
  • Established The Events Studio – a new, dedicated learning and events space, with its own garden
  • Created a new public garden and restaurant
  • Safeguarded and broadened the provision of studios for artists with disabilities
  • Introduced two Residency Studios to host visiting artists and curators onsite for the first time
  • Commissioned two permanent artworks by Anthea Hamilton and Joanne Tatham; Tom O’Sullivan
  • Fully renovated Studio Voltaire’s building, making it considerably more environmentally sustainable
  • Established the first–ever permanent House of Voltaire

The capital project was funded by public funders, including The Mayor of London’s Strategic Investment Fund, Arts Council England and Stride, backed by the London Boroughs of Lambeth, Lewisham, Southwark and Wandsworth, alongside grants from trusts and foundations, individual donations and sales of unique artworks.

The Process

Studio Voltaire approached the Arts & Culture Impact Fund for a £150,000 investment as a safety net to support its cash flow during a transitional period. Doing so would ensure Studio Voltaire could appropriately resource the organisation during a key moment of organisational change, which would be repaid from the increased income-generating opportunities brought about by the enhanced, larger venue. Due diligence focused primarily on several assumptions underpinning future projections and the associated risks with the loan, split into two tranches of £70k and £80k.

The Impact

The ACIF investment provided an important safety net to support its cash flow during a transitional period, as the organisation established a new operating model emerging from its transformative capital project. Ultimately, only the first tranche was utilised, and paid back early.

 

Artist Kitchen Images courtesy Studio Voltaire Photo FRENCH+TYE

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