The Social Investment Business Group has acquired five new board members, including an MP, as it enters its second decade of social investment.

The five new board members include Crispin Blunt MP, who served as the minister responsible for prisons, probation, youth and criminal justice until September 2012

He is joined by Carolyn Aitchison, who has been MD at the Blackstone Group and Morgan Stanley, and is a trustee for the Big Issue Foundation; Louise Keeling, an equity asset manager at Insight Investment and Marathon Asset Management; and Edward Lord, chair of Capital Ambition.

The final new board member is Jeremy Newman, chair of the Audit Commission and the former global chief executive of BDO.

Sir Stephen Bubb, chief executive of Acevo and chair of the Social Investment Business Group, said of the appointments: "These are top-class recruits and I remain privileged to lead such talented boards. Our new appointments are the product of a rigorous search process and highlight the capacity of our sector to attract the very best."

The Social Investment Business Group is one of the largest social investors in the UK, comprising the Social Investment Business and its parent charity, Adventure Capital Fund.

Since May 2012, the Group has been delivering the £10m Investment and Contract Readiness Fund on behalf of the Office for Civil Society, with grants between £50,000 and £150,000 available to social ventures.