Venture philanthropy organisation Impetus Trust has made its first £1m investment, into educational charity IntoUniversity.

Impetus Trust has been working with IntoUniversity, which supports young people from disadvantaged backgrounds in attaining either a university place or a different ambition, since 2008.

The milestone has been reached courtesy of the £600,000 Impetus has already invested in the charity, along with management and pro bono support valued at £485,000 from its corporate partners including OC&C Strategy Consultants, PwC, Debevoise & Plimpton LLP and more than a dozen individual experts.

“We believe that with continuing support and development, IntoUniversity has the potential to be a real gamechanger in the quest to get more talented but disadvantaged young people into higher education,” Impetus Trust said in a statement.

Next month marks the Trust’s 10th anniversary year.