UK Big Society Capital issues its first annual report with some 56 million Pounds having been committed so far…
Meanwhile, an interesting and wide ranging discussion about things happening across social investment in Mexico…
Big Society Capital (BSC) is the world’s first ever social investment institution of its kind, established by Cabinet Office and launched as an independent organisation in April 2012
BSC’s aim is to grow the social investment market. It invests in bodies that provide finance and other support to social sector organisations – making it easier for social entrepreneurs to access the capital they need, and become sustainable. BSC will have up to £600 million in capital to invest: £400 million from England’s share of unclaimed assets and £200 million invested by four large retail banks.
One year into operation, Big Society Capital has just published its first annual report (pdf). Over £56 million in investment has been committed so far, to a wide range of social finance organisations.
The latest trend in financing boasts a double or triple bottom line: returns, plus a solution to social or environmental problems.
“Impact investing” is the new buzzword in social development, an unlikely marriage between old-fashioned philanthropy and venture capitalism. The investment model, which considers the social and environmental benefits of a business venture on equal terms with its capacity to deliver return on investment, is being hailed as a way to direct more capital to solving problems in impoverished and marginalized communities.