The Cyfenter Fund of just over £4 million was created in 2011 by Menter Môn to provide financial investment to Social Enterprises in North West Wales. It is funded under the EU Convergence Programme, through the European Regional Development Fund (ERDF) and the local authorities of Anglesey, Conwy, Denbighshire and Gwynedd. The Project runs until 2015.
The Cyfenter Fund's targets are as follows:-
- Creation of 26 new Social Enterprises
- Creation of 36 new jobs (a permanent post of full-time equivalent of 30 hours per week)
- Investment induced of £300,000
- Financial support for 15 enterprises, and assistance of 20 organisations
- Support for projects that enable 2,400 people to access new services
- Support 25 organisations in adopting or improving their environmental systems and equality strategies