Social investment bank to invest £37m
25 September 2012
Big Society Capital, the world's first social investment bank, has announced investments worth £37m in projects linked to socially desirable outcomes.
The two biggest investments are each of £10m. The first has gone to the Results Fund, which provides finance for social sector organisations competing for government 'payment-by-results' contracts. The second went to Impact Ventures UK Fund, which provides growth capital for social enterprises.
A new report from Boston Consulting Group predicts that demand in the social investment market in England could reach £1bn by 2016, six times what it is today.