Big Issue Invest is set to receive £250,000 for its Social Ethical Investment Fund from a new social investment initiative between fundraising and philanthropy consultancy Bethechange and wealth management boutique Addidi.

Bethechange and Addidi have teamed up to attract social investment of £500,000 from 100 private investors who will each invest a minimum of £5,000.

The scheme, dubbed the Make A Difference Investment Club (MAD), will help high net worth individuals invest in funds that deliver social and financial returns.

Big Issue Invest’s Social Enterprise Investment Fund (SEIF) has been selected as a key partner. Once the £500,000 has been raised, half will be invested immediately in the Big Issue Invest SEIF. The remaining funds will be invested in social enterprises that club members expect will deliver both financial returns and high social impact.

Anna Sofat (pictured), founder of Addidi, said: “We are seeking individuals who currently make charitable donations and/or invest in ethical funds and who would like to 'do good' as an integral part of their wealth management strategy.”