Social Investment Business to launch £10m pilot funds

By David Ainsworth, Third Sector Online, 27 January 2012

Jonathan Jenkins

Jonathan Jenkins

If they are successful, says Jonathan Jenkins of the SIB, he will attempt to raise up to £50m more

The Social Investment Business will this year launch funds totalling up to £10m to lend to the third sector.

Jonathan Jenkins, chief executive of the social lender, told Third Sector that if the new funds were successful, he would attempt to raise "serious money".

"If this works, we could look at raising a fund of £25m or £50m," he said. "Before we can raise that sort of money, though, we’ll need a track record, which is why we’ll have these pilots."

The SIB had not yet decided the criteria for applying for either the £10m funds or the suggested follow up, he said.

Jenkins said the organisation, which manages several government funds including the Communitybuilders endowment and the Social Action Fund, might try to win more business from the government, but also wanted to raise money elsewhere.

The business was considering about 15 different ideas for new funds and would select one or two, he said.

"We’re looking at different ways of raising money and different ways of investing it," he said. "For example, a lot of charities have become interested in social investment since the publication of the Charity Commission’s new CC14 investment guidance. Can we raise a fund from them to invest money on their behalf?"

He said other ideas for raising money included selling securities based on the loan book from the Futurebuilders fund, which the business runs on behalf of the Cabinet Office.

He said a fund could lend to government organisations wanting to spin out social enterprises, provide capital to charities wanting to win payment-by-results contracts or act as an 'angel investor' in social enterprises with a business they wanted to grow.

Related Articles

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed















90 per cent funded training for third sector: Collaborative Leadership Programme

  • Date: Thu 13 Mar 2014 - Fri 16 May 2014
  • Venue: Leeds

Lies, damned lies, and statistics: what should you really be measuring?

  • Date: Wed 23 Apr 2014 - Wed 23 Apr 2014
  • Venue: Westminster

People power

  • Date: Wed 30 Apr 2014 - Wed 30 Apr 2014
  • Venue: London

Third Sector Insight