Social investment bank commits £100m to new projects
The world’s first social investment bank, Big Society Capital (BSC), has committed up to £100m investment in new projects for 2013.
BSC has already committed £56m to 20 social investment projects since its launch in April 2012. This includes supporting six social impact bonds and investing in the development of a social stock exchange.
Big Society Capital’s CEO, Nick O’Donohoe, said the organisation will target up to 20 new investments in 2013, committing between £75m and £100m.
He said: ‘In 2013 we believe that, as a result of our establishment, front line social organisations will begin to notice a real difference in their ability to access capital.
‘There will be more dedicated pools of capital. There will be more social investment professionals who can originate and structure transactions. There will be greater standardisation and consistency in Social Impact Bond programmes and more money available to fund charities wishing to participate in these outcome-based programmes.’