The Big Society Investment Fund
Big Lottery Fund
Summary of the programme
While the Big Society Bank is being set up we’ve been asked to distribute up to £5 million raised from dormant bank accounts, to realise some early benefits and provide a springboard for the future. You can find out more about the Big Society Bank and dormant bank accounts on the Cabinet office website
Our aim and outcomes
Our aim is to build the diversity and resilience of the social investment market by investing in well managed, ambitious and financially sound social investment intermediaries, so that charities and social enterprises are able to access capital that will enable them to work more effectively in our communities and together address the needs of our society.
Through the The Big Society Investment Fund, we’re looking to support around five social investment proposals from social investment intermediary organisations.
To achieve our aim we’re looking to support social investment proposals that will enable intermediary organisations to:
provide better support to organisations that improve the lives of those in need
create a stronger and more dynamic social investment market that is better equipped to lever funds from other sources
increase knowledge and learning about effective approaches that achieve a financial return.
Who can apply?
We will only consider proposals from social investment intermediary organisations based in the UK that will provide social investment products or services for social sector organisations that primarily benefit people in England.
So we won’t consider proposals from frontline social sector organisations or individual projects.
You must be able to demonstrate a strong track record in providing social investment products or services, or have credible plans to acquire the skills, experience and expertise you will need.
What will we fund?
We’re interested in proposals that will:
develop the investor market, through supporting the creation of appropriate social investment vehicles
tackle gaps in the supply of capital to the social sector, such as supporting high growth ventures, smaller local organisations and initiatives to improve opportunities for young people
support financial innovation, so that social sector organisations can be rewarded for their performance in delivering valued social outcomes
create better connections between social entrepreneurs and sources of capital, so they can
grow their ventures
develop intermediaries, so they can operate more effectively between sources of capital and those in need and add to the flow of investment and skills to the social sector.
The minimum you can apply for is £500,000. We haven’t set a maximum but you should bear in mind that we’re looking to use the £5 million available to support around five proposals.
For more info see http://www.bigfund.org.uk/prog_big_society_investment_fund