Big Society Capital to announce investments worth �£32m

  • The social investment wholesaler will reveal the details of seven new investments on Thursday.

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    Big Society Capital, the £600m social investment wholesaler, will announce seven new investments worth about £32m on Thursday.

    The lender, which was formally launched in April this year, has already agreed five deals worth around £5m. Nick O'Donohoe, its chief executive, has said he hopes to commit around £50m in its first year.

    A spokesman for Big Society Capital said the details of the announcements, including which organisations will receive investments, would not be available until Thursday.

    It has previously announced plans for a £15m fund that will support charities to win and run payment-by-results contracts, but it has not confirmed whether this will be one of the new investments.

    Big Society Capital was established with £400m of funding from dormant bank accounts and £200m of investment from four high street banks. It will invest in social finance intermediaries who support third sector organisations.

     

    Source: Third Sector

     

     

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