Funding Progress
$0 of a $100,000 goal
Be One of the First Investors — early movers shape the outcome
Invest: Minimum ($250)
About The Refugee Venture Fund
The Refugee Venture Fund is a pilot UK investment vehicle set up to prove that refugee founders are outlier entrepreneurs worth backing on commercial terms, and to build the evidence base that unlocks mainstream capital for the wider refugee entrepreneurship ecosystem.
Our thesis
Refugee founders are outlier entrepreneurs. They show the same disproportionate excellence, resilience and bias to action found in any top-tier startup founder, but they're locked out of mainstream growth capital by barriers that have nothing to do with the quality of their businesses: limited UK credit history, no access to founder networks, and investor caution around immigration status.
TERN, the social enterprise behind the fund, has spent more than a decade proving this thesis on the ground: over 200 refugee-led businesses launched with TERN's support to date. The fund exists to take that track record and test it as a commercial investment case, not just a support programme.
We're not correcting this through charity. We're correcting it by proving these founders are investable, backing them with real capital, and generating returns that pull mainstream investors into a market they've historically overlooked.
What we're raising
A £300k to £500k pilot SPV, structured to back 5 to 10 high-potential refugee-led startups. TERN holds Class A shares (board control, chairmanship, share transfer vetoes). Investors hold Class B shares, ranking pari passu on economics. This is the proof point for a £10 million main fund.
How it drives impact
- Founders get growth capital and are treated as businesspeople, not beneficiaries
- Successful exits (follow-on rounds at uplifted valuations, mainstream capital entering the space) validate the commercial case for backing refugee entrepreneurs at scale
- A percentage of any exit proceeds is reinvested into refugee entrepreneurship support, so the fund's success compounds beyond its own portfolio
- Selected founders are incentivised to hire from refugee communities, extending the fund's economic impact into jobs and livelihoods
- Founders are engaged in positive media coverage that spotlights refugee business success, shifting public and investor perception of refugee talent
- Everything we learn, including what doesn't work, gets shared through TERN's 2030 Strategy and the Global Refugee Entrepreneurship Network, so the wider ecosystem benefits, not just our portfolio
Themes & SDGs Supported
Mission and Vision
Mission To validate the investability of refugee-led ventures by piloting the UK's first refugee-focused investment funnel. Through a time-bound, de-risked SPV, we back 5-10 high-potential founders, selected through a rigorous three-month process that prioritises capability, leadership and execution. Early investors get the chance to fund a new asset class rooted in inclusion and talent, and to help prove the commercial case for a £10 million main fund. Vision A world where venture capital embraces and enables refugee-led businesses.
Investment Terms
To view Terms/Materials, you must have a CataCap account and be logged in. Access to full materials is available to Donor/Investors with an active CataCap balance.
If you do not have an active balance, you may contact the company or fund directly using the “Questions about this investment?” link, or email [email protected] for assistance.
Investment Materials
To view Materials/Terms, you must have a CataCap account and be logged in. Access to full materials is available to Donor/Investors with an active CataCap balance.
If you do not have an active balance, you may contact the company or fund directly using the “Questions about this investment?” link, or email [email protected] for assistance.
Funding Progress
$0 of a $100,000 goal
Be One of the First Investors — early movers shape the outcome
Put Your Capital to Work
Invest: Minimum ($250)