The consortium, which also includes management consultants and social enterprises, will administer grants and offer business support to charities which successfully bid for the money.
It will also offer a mentoring service to third sector organisations which have been chosen to receive funding.
Children’s minister Beverley Hughes said: Each consortium member brings very real experience that will enable them to support effective youth third sector organisations.
The fund is for third sector organisations working with young people. The closing date for bids for the second round of funding is 3 October, and the Department for Children, Schools and Families has said it particularly wants to fund organisations working with young people at risk of becoming involved in crime.
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