Social Investment Business to run £10m investment-readiness fund

Finance | Vibeka Mair | 1 Mar 2012

The Social Investment Business is to deliver a new £10m government fund that will help social ventures prepare themselves to raise additional social investment or to run public services.

The Investment and Contract Readiness (ICR) Fund will be fully launched by the end of April 2012, and will focus on supporting social ventures that have the potential for high growth and delivering positive social impact.

The ICR Fund will be led by an investor panel comprising some of the key players in the social investment market. It will be chaired by Big Society Capital, and include, Big Issue Invest, the Big Lottery Fund, Bridges Ventures, CAF Venturesome, Deutsche Bank, Esmée Fairbairn, Finance South East, Nesta, Panahpur, NatWest Bank, Social Investment Business Group and Triodos Bank.

The Investors Panel will drive programme design, decision making, the selection of the social ventures who will receive the grant and define the standards of approved advisory support providers plus opportunities for other investors to be involved.

Jonathan Jenkins, chief executive of Social Investment Business said: “We do not believe that there is any group better placed to define what investment readiness looks like nor to decide which social ventures should receive investment.

“We hope this will signal a step change for the social investment market as well as bringing major benefits to social ventures seeking to respond to the new economic landscape.”

The ICR Fund will help social ventures that are not yet ‘investment-ready’ or ready to win a public service contract. Likely areas for support, include business planning, proving impact, building financial management systems and strengthening senior management teams.

The Social Investment Business is interested in receiving registrations of interest in the Fund from:

• Social ventures that would like advisors to support them expand and prepare for investments and /or getting public sector contracts.

• Investment advisory support providers with a track record of supporting organisations to investment and contract readiness.

• Potential investors in social ventures interested in learning more about the Fund and the pipeline of investible opportunities it intends to create.

Organisations can register their interest at the SIB website.

Directory: Triodos Bank | Big Lottery Fund | Bridges Ventures | The Social Investment Business

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