What is Big Society Capital?
Big Society Capital is a unique UK social investment institution which was founded in 2011 with a £600 million endowment from major UK banks. The organization works to promote investments that create social impact and support those organizations that wish to use social financing. It does this by providing access to affordable financial capital for charities and social enterprises who are working for the benefit of society, with the goal of helping them to become more financially self-sustainable.
Big Society Capital’s “home” is at the heart of the venture capital industry in London. It is backed by a network of more than 250 charitable and social venture investors who, together, have committed around £1 billion in capital towards social investments.
Big Society Capital works to bring together a wide variety of investors, intermediaries, and advice and technical service providers in the field of social finance. The aim is to break down barriers and make the social investment market more accessible, efficient, and transparent.
To achieve this goal, Big Society Capital has developed an innovative and pioneering approach. It does this by providing tailored investments to organisations and helping them to understand their offering and markets better, thus enabling them to develop successful social ventures.
Big Society Capital has performed some major and groundbreaking investments. For example, it has invested in Jamie Oliver’s Fifteen Cornwall, the Eden Project’s Eden Campus University, City & Guilds’ Tech Future, and other projects which help those in need.
Big Society Capital has had significant success in helping to inject new capital into projects which have had a positive impact on the communities and businesses that they serve. Its biggest success has been the introduction of social investment tax relief (SITR) which provides tax deductions to individuals and organisations that invest in certain qualifying social projects.
Big Society Capital has made a huge contribution to boosting the UK’s social economy, increasing the scale and reach of social investment, and making the UK a leader in social investing. With its ambitious aim to move the field of social finance forward, Big Society Capital can be an important ally to those organisations and small businesses who wish to use social investment to create positive social change.