The Dispossessed Fund stands at more than £8.3 million, thanks to the generosity of Evening Standard readers and a £1 million donation from Sport Relief, with scores of charities around London benefiting from grants.
Davies said he became interested in supporting the scheme after reading about the £20,000 donation made to the JAGS Foundation, which supports families of murdered children and empowers teenage girls involved in gang culture.
He said: “I think the Dispossessed is fantastic, it has been itching away at me for two years that I wanted to do something for it. I had this crackpot idea and it fitted perfectly.
“When I read another article around that time that the Dispossessed were releasing funds to help homeless projects I knew it was a fund I would like to be involved with some day.
“I wanted to promote community projects and help the poorest members of our society who always seem to get the rawest deal, especially with today’s economic climate.”
Davies is currently hoping to arrange corporate sponsorship for the journey with Barclays Bank.