Big Issue Invest, a specialist provider of finance to social enterprises and the trading arms of charities, is to launch a new fund worth up to £50m for social businesses that tackle issues such as healthcare and social housing.
Speaking at a European Association of Philanthropy and Giving conference in London last week, Nigel Kershaw, chief executive of Big Issue Invest, said: "We are about to launch an investment fund worth between a £30m and £50m for people who are doing good."
Afterwards, Kershaw told Third Sector he could give no more details about the fund because at this stage it was confidential.
The National Endowment for Science, Technology and the Arts published a description of the fund in December, listing it as a proposal that would be developed into a financial product that could be made available by the Big Society Bank.
"Big Issue Invest is working for the development, market-testing and launch of a London Alternative Investment Market-listed social investment fund that would invest in both UK Stock Exchange-listed and early-stage social purpose businesses such as healthcare, education and social housing," it said.