Big Society Capital publishes annual report
Big Society Capital, the world’s first social investment bank, today published its 2013 annual report, outlining performance to date and setting out a new three-year strategy.
As of December 2013, Big Society Capital had received £225.4 million of funding from the Reclaim Fund and four UK high street banks, making total cumulative commitments of £149.1 million, with matching funding of 116% from third party investors alongside Big Society Capital’s own signed investments.
Harvey McGrath, chair of Big Society Capital, said: “Acting as a market champion and using our investments to encourage others to invest alongside us, we’ve continued to develop the social investment market.
“We’ve done this by funding existing and new organisations, continuing to drive interest in and understanding of the market within the social sector and with mainstream investors, and working to improve the policy environment.
“Internationally and in the UK, interest and engagement in social investment stepped up a gear in 2013, most notably with the announcement of the Social Investment Tax Relief, and the launch at G8 of the Social Impact Investment Taskforce.