Britain’s first social enterprise fund raises £3m
Big Issue Invest, Britain’s first social enterprise investment fund, is set to close its first round of investments having raised almost £3 million towards a £10 million total.
Investors in the fund are similar to investors in a mainstream investment fund, and include pension funds, pop stars, and other wealthy individuals.
“We are offering investors a chance to invest in businesses that will have a real and measurable social impact and will also deliver a good return,” said Nigel Kershaw, chief executive of Big Issue Invest.
“This is not charity, we are not anti-business and we are not anti-profit.”
The fund is the first FSA-authorised social enterprise fund in the UK.
After the fund has proved its credentials with the first £10 million of investments, it aims to raise a larger fund of up to £100 million.
“A lot of people are very interested in this type of investment,” Kershaw said.
“We want to show that business and capitalism can offer a solution to the problem of poverty and can make a real and sustainable impact on peoples’ lives.”