Today, Key Fund provide flexible loans and grants to community and social enterprises traditionally excluded by mainstream finance. 2021 marks 21 years’ investing. We currently operate across the North and the Midlands.
Matt Smith CBE, CEO of Key Fund, said: “Hugh played an instrumental role in developing the social investment model and is a true pioneer, as well as a personal mentor and friend. He leaves Key Fund in a very strong position, with a robust board and management team, despite the challenges of COVID-19. As such, it’s a good point to welcome Sam to the role.”
with 80% of investments given to organisations that are in the top 30% most deprived on the indices of multiple deprivations.
For six years, Sam was Chief Executive of the Carlisle Business Centre in Manningham. Under her leadership, with Key Fund investment, she led a change management programme to increase its turnover to £750k and secured £1m from Power to Change to support community businesses and regenerate the area.
Sam said: “As someone who has been a client of Key Fund, I bring my experience on the ground to the role of Chair, working with diverse and disadvantaged communities. Hugh is incredibly well-respected and regarded in our sector, so I have very big boots to fill. But I’m really looking forward to working with the Key Fund at a time when its work has never been so vital or needed.
My ambition is to help Key Fund broaden and deepen its reach across the North and the East and West Midlands, to ensure no communities are excluded.”
Sam is currently a Strategic Director at Yorkshire Sport Foundation, part of Sport England’s Extended Workforce Team. She began her career in the sports sector, before moving to Bradford in 2000 to manage a community regeneration through a sports programme. It led to a 20-year career in community regeneration, business start-ups, and growth in Bradford, where she has worked across the voluntary and community enterprise sector, and held numerous voluntary Trustee and Chair roles, including at Bradford District Credit Union.
To date, Key Fund has supported over 2,500 social and community enterprises, enabling 1,315 new jobs, safeguarding 2,094 jobs and creating 519 new businesses, all working to tackle deep-rooted challenges, from homelessness and NEETs to mental ill-health and the environmental crisis.
In response to the pandemic, we have worked with partners to secure an £18.7m Social Enterprise Support Fund, made possible by The National Lottery Community Fund. In just three months, it delivered £9m of emergency grants to social enterprises hit hard by lockdowns.
Hugh said: “As I step down, I feel confident in passing on the responsibility and the joy of being Chair of Key Fund to Sam Keighley. I’m immensely proud Key Fund has remained a values-driven organisation. During one of recent history’s biggest crises, the organisation continues to play a leadership role, while sticking to its guns. So, now is the ideal time to leave.”
Hugh was honoured in the 2021 New Year’s Honours with an OBE as Chair and Founding Member of Key Fund, for services to Social Investment and Enterprise in the Midlands and North of England.