Funding Affordable Homes (FAH), a social impact company which enables long-term socially responsible private investment into the affordable housing sector, has today announced that it has received an investment of £15 million from Big Society Capital.
Big Issue Invest, a pioneering social investor and part of The Big Issue Group, today announced that it had recently closed a first tranche of fundraising commitments of over £21 million into its Big Issue Invest Social Enterprise Investment Fund II (SEIF II). Following on from the success of Big Issue Invest’s first investment fund (SEIF I), which is now fully committed, SEIF II is seeking opportunities to invest in businesses with ambitious social impact goals whilst aiming to deliver robust financial returns to investors.
I spent seven years looking after my mum before she died. Caring for someone with dementia is a lot harder than most people realise. I often felt lost and overwhelmed by the task ahead and soon realised I had to find new ways to keep Mum busy and give her a sense of purpose, otherwise she’d spend all day staring at the TV.
Financial services offer the potential to help manage ﬂuctuations in income and expenditure, build resilience against future shocks, and provide the means for people to take advantage of opportunities.
One of the commitments we made in our transparency proposals was the publication of historical deal-level data up to September 2015. Today we are able to publish that data, which includes deals made or facilitated by fund managers, banks and other intermediaries who have received capital from Big Society Capital.
The Bridges Spectrum of Capital’ is our attempt to map out the broad range of risk/return strategies that exist within sustainable and impact investing – and to explain how that relates to the capital markets more generally.
Many ex-offenders are reconvicted within one year of release. There is plenty of research to say that many prisoners think having a job is a vital part of keeping them out of prison. The problem is finding employment on release can be difficult, particularly for those who were unemployed before they were convicted.
Big Society Capital wants to create a £5 million facility for alternative finance platforms to match crowdfunded investments by individuals to charities and social enterprises. We are seeking platforms to partner with us to deliver this fund which will launch in 2016.
In a recent speech on creating a ‘smarter state’, the Prime Minister said that government will increasingly be ‘bringing in new providers or allowing new ways of doing things’. Following this, the Institute for Government convened an event to explore what we can learn from new approaches to commissioning, setting up and managing public service markets and how to enable integration and collaboration between service providers and government.
Last month, we announced a Kick-Off Workshop to initiate discussions about our proposed Crowd Match Fund. The half-day workshop took place on Monday 23rd November comprising of five sessions lead by speakers from Big Society Capital, Nesta and Freedom Bakery.
If there is such thing as a typical grant making trust, the Andrews Charitable Trust (ACT) isn’t one of them. I recently attended ACT’s 50th anniversary celebration, hosted by one of their grantees 2nd Chance in Southwark which is supporting young people into sustained employment. It was a fantastic experience, not least because of the young people who catered and supported the event. It was also a great reminder of the old and new in the voluntary and social enterprise sector, and several themes during the event struck me as relevant for our work in social investment.
Today we announced the winner of the Business Impact Challenge – an innovative new partnership between Interserve, Catch 22 and ClubFinance that has the potential to increase charities and social enterprises’ ability to compete for and deliver public services contracts at scale.