Fifty-seven charities and social enterprises have benefitted financially from investments backed by Big Society Capital since its launch in 2011, its new annual report says.

Its second accounts, for the year ending 31 December 2013, say that Big Society Capital has made £149.1m in social investment commitments across 31 deals, with £48.1m signed and available for charities and social enterprises to access.  Some 57 have so far - £13.1m in investment has been drawn down. 

Intermediaries who have received investment from Big Society Capital have raised £55.5m in match-funding.

Big Society Capital has received £225.4m of funding from the Reclaim Fund and four UK high street banks who are investing in the organisation.

Big Society Capital’s revenue fell slightly from £1.5m in 2012 to £1.1m 2013, and it made losses on its social investment portfolio of £600,000.

This is in line with its business plan which accounts for losses in its initial years while it builds the social investment market and makes early-stage 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.”