Futurebuilders England chief executive Richard Gutch is to stand down at the end March.

Gutch, chief executive since the organisation started in early 2004, had been expected to leave after the organisation lost the tender to continue running the £215m Futurebuilders Fund to the Adventure Capital Fund (ACF).

The fund provides grants and loans for voluntary sector organisations wanting to secure public service delivery contracts. ACF will take over Futurebuilders England and will run the fund through the existing organisation from 1st April, with Jonathan Lewis, chief executive of ACF, taking over Gutch’s role.