Big Society Capital is an independent financial institution that was set up to develop social investment in the UK. It official launched in summer 2011, and before then was know as Big Society Bank.
It invests in social investment finance intermediaries (SIFIs), which are organisations that provide finance to social sector organisations such as charities, social enterprises, community organisations and co-ops.
The organisation is funded by equity investments from the Big Society Trust, using an estimated £400m in unclaimed assets from dormant bank accounts over 15 years. The Merlin banks (Barclays, HSBC, Lloyds Banking Group and RBS) will also invest £350m each.