The campaign launched in May 2022, hopes to purchase the freehold of nine venues across the UK.
Coining the name “The National Trust, but for venues”, Own Our Venues is based on a community share model which has been used previously to protect pubs and sports grounds.
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According to its website, the fundraiser has reached around £1,323,399 from donations.
The Trust previously stated that 556 grassroots venues were at imminent risk of permanent closure due to tight operating margins and the inability to open to custom during the lockdown.
This campaign is described as a "radical, rewarding and exciting opportunity for the live music community to own, protect and improve UK Grassroots Music Venues."
In a statement, Music Venue Trust said: "For the last 8 years Music Venue Trust has led the campaign to protect, secure and improve Grassroots Music Venues in the U.K. Supported by you – our incredible community of music fans, artists, and crew – the charity has grown from strength to strength and currently provides support for over 900 venues in the U.K."
It continues: "Now we want to make the most radical change of all. We want to permanently secure a future for these venues by changing the ownership model. We believe these vital venues should belong to us. All of us that care about them, that play in them, that visit them."
Donate to the Music Venue Trust's Own Our Venues scheme here.
Becky Buckle is Mixmag's Video and Editorial Assistant, follow her on Twitter