TempoCap Partners with the Trussell Trust to Launch #LunchBank Initiative to Encourage Businesses to Redeploy Budgets to Feed and Support Local Communities
- TempoCap will donate to the Trussell Trust to support its work feeding local communities as part of its #LunchBank initiative encouraging its network and other businesses to do the same.
- The Trussell Trust is a UK charity established in 1997 with a vision to see a UK without the need for food banks.
- The money raised will help the charity continue to support food banks to provide vital help to people unable to afford food, and overcome the additional challenges caused by the outbreak.
London, April 8th, 2020: TempoCap, the leading European technology investment company today announces the official launch of a new campaign in response to the COVID-19 crisis. TempoCap, in partnership with the Trussell Trust, has launched the #LunchBank campaign, aimed to support those affected by the current pandemic.
TempoCap has chosen to support the Trussell Trust with this initiative due to their excellent track record of providing emergency food and support to people locked in poverty, and campaigning for change to end the need for food banks in the UK. Last year, through their network of over 1,200 distribution centres throughout the UK they delivered more than 1.6 million food parcels, over half a million of these went to children.
TempoCap will be redeploying its monthly team lunch budget in order to support those living in crisis. TempoCap, the first venture capital campaign to support the Trussell Trust on such a campaign, is calling on those within the broader venture capital community to get involved, support the initiative and work together for the common good.
With this new initiative, TempoCap is aiming to deliver a compound benefit far beyond their initial investment by harnessing the power and generosity of their network and those in the wider business community. Whatever the size of a business’s monthly team lunch or hospitality budget, it can make a real difference to those locked in poverty unable to afford their own food.
Olav Ostin, Managing Partner, TempoCap, shared, “When deciding how we could help, it made sense to work with an ambitious, impactful organisation supporting those most in need. We believe that the Trussell Trust is such an organisation, and we are proud to back their vital work. This is an area where any investment, large or small, can have a truly transformative effect. We encourage all of the members of our community to join us in making this investment.”
The Trussell Trust’s Head of Corporate Partnerships, Sophie Carre, said “It is great to see this initiative spearheaded by TempoCap. The campaign has deliberately been designed to be suitable for businesses of all sizes and budgets. There is no minimum contribution. Every donation – big or small – counts. This campaign will help continue to support those that cannot afford to buy food over the coming months.”
Michael Moore, BVCA Director General concluded, “The impact of Covid-19 is unprecedented, and the BVCA is pleased to support a range of initiatives our members are involved in, including TempoCap’s support of the Trussell Trust Food Bank Initiative.”
Contact
Courtney Glymph
Head of Communications, TempoCap
+44(0)7867488769
Notes to Editor
About the Trussell Trust:
- We’re here to end the need for food banks in UK.
- We support a UK-wide network of more than 1,200 food bank centres and together we provide emergency food and support to people locked in poverty, and campaign for change to end the need for food banks in the UK.
- Our most recent figures for the number of emergency food supplies provided by our network: https://www.trusselltrust.org/news-and-blog/latest-stats/
- You can read more about our work at trusselltrust.org
About TempoCap
TempoCap is a leading European technology investor in fast-growing sizeable businesses. TempoCap offers primary capital for companies to accelerate growth as well as attractive and flexible liquidity solutions for sellers (entrepreneurs, venture capitalists, corporates). In addition to single asset investments, TempoCap advised funds acquire secondary direct investments by purchasing entire portfolios of investments from various type of investors including venture capital funds, corporates, banks or prominent business angels. For more information please visit, https://www.tempocap.com
