The UK Commission for Employment and Skills commissioned a qualitative evaluation across a range of investments, including projects funded under the first two rounds of the Growth and Innovation Fund (GIF) and the second phase of the Employer Investment Fund (EIF). The evaluation was undertaken from November 2012 to April 2013. It was based primarily around a qualitative case study approach. There were 10 case studies looking at investment fund projects (five EIF 2 case studies; and five GIF projects, including three GIF 1 case studies and two GIF 2 case studies) and 10 case studies on standards and framework products. In addition to the case studies, the research also included interviews with organisations that were recipients of development funding and/ or support and advice introduced as part of the GIF 2 development phase. This report presents the findings of the investment case studies and interviews with organisations that received development funding and / or support and advice. A separate report presents the findings from the standards and framework case studies.