In 2021 we made 12 new commitments totalling £80 million. This, alongside more than £319 million from co-investment, means a total of nearly £400 million of committed investment to funds across our market system areas in the year.
|Investment Name||Market System||Commitment||Investment Summary|
|CBRE UK Affordable Housing Fund||Social and affordable housing||£20m||Follow-on investment – Affordable Housing Fund (AHF) aims to provide equity-like financing for registered providers to deliver affordable and social rental housing in the UK. CBRE Global Investors (CBRE GI) is seeking to raise £250 million for its launch.|
|Recovery Loan Fund||Social lending||£15m||Structured match commitment to lend to special-purpose vehicle set up by Social Investment Business, designed to leverage the Government’s Recovery Loan Scheme Guarantees to deliver loans to the social sector.|
|Charity Bank Co-investment Facility||Social lending||£10m||Follow-on investment of co-investment facility, to enable Charity Bank to make larger loans to a wide range of charities and social enterprises.|
|Man Community Housing Fund||Social and affordable housing||£10m||Community housing fund to work with local authorities and housing associations to provide and deliver affordable housing.|
|Resonance Everyone In Fund||Social and affordable housing||£7.5m||Property fund to acquire homes for people at risk of homelessness in London, in partnership with Greater London Authority and National Association for the Care and Resettlement of Offenders (Nacro).|
|Balderton Growth Capital*||Impact venture||£5.1m||Late-stage venture fund seeking to support UK and European start-ups with global ambition to further their Sustainable Future Goals.|
|Resonance Community Developers Fund||Social lending||£5m||Blended finance fund, focused on supporting community groups to develop and own assets, particularly with a focus on housing and sports.|
|Ananda Social Venture Fund IV*||Impact venture||£3.5m||Early-stage venture capital fund, focused on scaling UK and European impact-driven for-profit enterprises.|
|Balderton VIII*||Impact venture||£1.5m||Early-stage venture fund seeking to support UK and European start-ups with global ambition.|
|Charity Bank||Social lending||£1m||Follow-on equity investment to provide additional regulatory capital, to enable Charity Bank to grow its existing loan book.|
|Fair by Design (Poverty Premium Fund)||Impact venture||£1m||Follow-on investment into a fund for the development of an ecosystem to eliminate the poverty premium in the UK.|
Impact Fund – Key Fund (Access)
|Social lending||£0.3m||Development of the Northern Impact Fund, which offers blended loan/grant capital.|
* Commitments in foreign currencies are stated in GBP equivalent
Our commitments for 2021 are in line with the long-term trend, although lower than 2020, which saw a number of specific Covid-19 commitments.
Our commitments in each market system, alongside the total committed by us with co-investors.