Purpose

The report provides on the basis for this decision including
an update on progress made on fundraising, investment pipeline development,
governance and due diligence to establish Greater Cambridge Impact (GCI) and
enable the first social investments to be made.

Content

Cabinet resolved to approve the drawdown of the Councils
£0.8m and approve the formalisation of its investment in Greater Cambridge
Impact (GCI), following consultation with the Overview and Scrutiny Chairs and
Vice-Chairs, and reassurance from the Chief Executive and Chief Financial
Officer that governance arrangements are in place and due diligence is complete