Social investment fund needed to pay for mergers, trustees hear
A social investment fund should be set up to cover the costs of mergers in the charity sector, trustees heard earlier this week.
The event on social investment for trustees was held at the London Stock Exchange and was hosted by Trustees Unlimited, together with social lenders Allia and Big Society Capital, as part of trustee’s week.
Delegate Mike Rogerson, a trustee of helpline charity Samaritans, suggested that social investment was needed to help cover the costs of merger. He said a fund which charities could borrow from to join together would be a “fantastic boon for the sector”.
Nick Jenkins (pictured), founder of Moonpig.com, former BBC Dragon and investment committee member of Impact Ventures UK, said he thinks it is a “great idea”.
He said that one problem of mergers was that one of the principal individuals involved in setting it up was likely to lose their job.
“I always congratulate people who fall on their sword to allow two charities to merge”.