IK's Venture Philanthropy activities

IKARE Ltd (pronounced 'I care' ) is a UK registered charity, applying venture philanthropic principles to the causes it supports. IKARE aims to overlay private equity investment techniques, and other business expertise and practices, into these causes or 'investees', thereby contributing more than just funding.

Engaging in philanthropy has been an integral part of IK’s culture since the firm was founded in 1989. But, as the IK partnership developed, the IK partners wanted to adopt a more structured approach to donations and link them more closely to the core business. We wanted to make a difference, we wanted to federate staff and we wanted to leave something sustainable behind.

IKARE was born out of these aims and ambitions. At the time, we did not know there was a name for our approach. But we later discovered there was: venture philanthropy.

Standing for IK Aid and Relief Enterprise, IKARE is an independent charity. Since 2006, IK Partners have contributed almost €1 million to IKARE and, of equal if not more importance, also provided considerable non-financial support.

Starting small-scale and focused, the effects have been tangible and long-lasting. IK intends to build on IKARE’s achievements in Uganda to look at other initiatives in Africa and Europe.

IKARE

Out of 11 originally funded, five veterinary practices are now into their fifth year of sustainable operations in different districts across Uganda and close to 200 self-employed spray person businesses have also been set up. There is still a lot more to be done, but the building blocks are in place.