Pathway Funding

2026 - 2029

Apply for Wave 1 Funding

Our Funding

About the

Wave 1 Fund

Pathway Fund's Wave 1 application portal is now open. We are inviting BEM-led Intermediary Managing Organisations to apply for funding to deploy grants and investments into BEM-led enterprises across England.

Application deadline: [DATE]

Questions: impact@pathwayfund.org.uk

APPLY

Catalysing BEM-led charities and social enterprises, in England.

Pathway Fund is the UK's first BEM-led social investment wholesaler. We do not fund frontline organisations directly.

Instead, we provide capital and support to Intermediary Managing Organisations (IMOs) – social investors, CDFIs, and specialist fund managers – who then deploy grants and investments to BEM-led enterprises in their communities.

Our £12 million in dormant assets funding, earmarked by the UK Government following the 2025 Dormant Assets Strategy, is now being deployed.

Wave 1 brings approximately £1 million per region across four priority regions, plus a £1.5 million national pot.

Wave 1 Regions

  • London & South East 

  • North West

  • South West

  • Yorkshire & Humber

Not in one of these regions?

Our national pot of £1.5 million is open to national organisations and all regions of England. It will remain open until fully committed. {INSERT MAP OF REGIONS}

Who Can Apply

What We Fund

Proposals

Key Documents

Timeline

Questions?

Applications are open to Intermediary Managing Organisations. You must be:

  • BEM-led – majority BEM leadership, governance, and/or workforce

  • Asset-locked – registered charity, CIO, or CIC limited by guarantee

  • Based in England and delivering impact in England

  • Operating as a social investor, CDFI, fund manager, or similar intermediary

We fund the following initiatives:

  • Enterprise Grants (Grant C) – direct or repayable grants to BEM-led enterprises

  • Blended Finance (Grant B) – our capital as a grant or first-loss layer blended with co-investment

  • IMO Capacity Building – grants supporting the growth and infrastructure of BEM-led IMOs

All funded programmes must track youth outcomes. At least £1.2 million of Pathway Fund's total DA allocation must support youth outcomes across the portfolio. Innovative product proposals are equally welcome – we are not prescriptive about financial product type.

We welcome both conceptual and detailed proposals:

  • Conceptual Proposal: your idea, community, indicative product and amount. Our IC will green-light strong conceptual proposals and our team will co-design a full proposal with you.

  • Detailed Proposal: a fully developed design including budget, co-investment status, target enterprises, and proposed products.

Read our key documents, here:

  • Application Form (Conceptual or Detailed route)  →  [LINK]

  • Guidance Note – eligibility, what the fund is and isn't  →  [LINK]

  • FAQs  →  pathwayfund.org.uk/wave-1-faqs

  • IMO Selection Process  →  [LINK]

  • National Programme Offer  →  [LINK]

  • Wave 1 Webinar Recording (from 18 March 2026)  →  [LINK]

The timeline:

  • Monday 16 March 2026:  Portal opens. All core documents available.

  • Monday 16 March 2026:  Information webinar (recording available from 18 March).

  • Applications close:  [DATE]

  • Investment Committee:  Early Q2 2026

  • Shortlisted applicants contacted:  Following close of the application window

Questions before submitting?

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