The Big Lottery Fund is making £10m of funding available to charities to help them access new revenue streams through social investment.
The £10m programme will be available to voluntary, community and social enterprise organisations across England to improve their ‘investment readiness’ so they can deliver greater social impact.
Nat Sloane, chair of Big Lottery Fund England, said the fund was designed to help charities to tap into a "different model of finance" that could transform how need is met "by providing greater financial incentives to improve performance".
He said: "Providing support for charities and social enterprises to help them access investment is a key priority of our social investment strategy in England and very important in these difficult times."
He added that Exemplas and Charity Bank were chosen because of their expertise in supporting small and medium-sized enterprises to access the social investment market.
In an interview with Third Sector earlier this month, civil society minister Nick Hurd said the government’s Social Outcomes Fund, designed to deal with complex social issues, was attracting interest from diverse places, and praised social impact bonds for providing "a space for genuine innovation".
Further details on how to apply for the grant will be available from the Big Lottery Fund this summer.