Zamo Capital – the new company backed by Big Society Capital to scale up social investors – confirms its first deal, which will help Social and Sustainable Capital expand its team and raise more capital for its housing fund.
Despite its low uptake, social enterprise and investment bodies are fighting to retain Social Investment Tax Relief – with uncertainty around its future already affecting businesses in north-west England.
Government lauds social enterprise for its ‘vital role’ in national coronavirus effort, announcing £30m for flexible finance in both crisis and recovery phases via Access Foundation.
Big Society Trust is pressing ahead with independent review of UK social investment wholesaler Big Society Capital's effectiveness, cost-effectiveness and process in spite of concerns about lack of responses during coronavirus crisis.
There's never been a better time for social investors to rewrite their rulebooks. Niamh Goggin, Helen Heap and Richard Litchfield suggest three ways they could start.
UK high street banks have been called upon to support emergency loan fund for social ventures, while social investors promise three-week turnaround and regular reviews to adapt and improve the fund where needed.
A £25m recovery fund, £29m in emergency loans and £50m more as Big Society Capital pledges to "reprioritise and repurpose" existing and future investments – while charities get a long-awaited promise of funding from government.
PLUS: Vital Capital creates emergency debt facility for Africa businesses, Cadent Foundation launches, Oddbox secures £3m for nationwide expansion, and Brazilian startup makes ‘sensational’ exit.
UK social investors have asked the government to contribute to a multimillion pound liquidity fund, while voluntary sector representatives warn charities face a £4.3bn funding shortfall over the next 12 weeks.
