Setting the Stage

Creating effective impact investment initiatives in the cultural and creative sectors (CCS) requires both financial expertise and a deep understanding of how creative organisations truly work. Setting the Stage provides a comprehensive roadmap for establishing primarily debt focused impact investment funds and initiatives in the CCS.

Who’s it For?

Drawing on Figurative’s substantial experience, and incorporating insights from recent Canadian explorations facilitated by the Metcalf Foundation, Setting the Stage is designed primarily for funders, policymakers, and cultural sector leaders ready to pioneer impact investment initiatives in their regions – wherever you are in the world.

Why Now?

The CCS have traditionally operated in a ‘mixed-model economy’ – a combination of public grants, philanthropic donations, and earned income. However, we are witnessing the emergence of a new paradigm that recognises the potential for impact investment to complement these traditional funding streams.

This shift is being driven by converging pressures including declining public funding, increasing demand for philanthropic funding and increasing interest from impact investors who seek both financial returns and meaningful social outcomes.

Impact investment offers cultural organisations access to repayable capital that can support growth, incentivise innovation, and build long-term sustainability.

Context of the Guide

The guide builds on the Impact Investment in the Cultural and Creative Sectors report from 2023, commissioned by the UK’s Creative Industries Policy and Evidence Centre, which made the case for expanding this form of capital globally.