Big Society Capital made social investments of £84m from its inception to the end of the first quarter of 2016, the social investment wholesaler has confirmed.
Figures released by BSC today alongside its annual report for 2015 show that £68m had been drawn down from the organisation by the end of 2015, with a further £16m also drawn down in the first quarter of 2016.
This is a substantial increase on the figures for 2014, when £36m had been drawn down from BSC.
BSC said this meant that charities and social enterprises had access to £223m in social investment from BSC and its co-investors by the end of the first quarter of 2016, a figure that includes money drawn down from BSC and its co-investors.
BSC said the cumulative amount of investment signed by it and its co-investors has increased to £624m – an increase of £37m on the total reached by the end of 2015.
The latest figures show that by the end of the first quarter of 2016, £264m had been invested by BSC in specialist organisations that lend to charities and social enterprises.
The annual review shows that social bank lending to charities and social enterprises was worth £545m at the end of 2015, which was spread across at least 1,200 loans. Non-bank lending of mainly unsecured loans was worth £158m at the end of 2015, spread over 850 investments.
Cliff Prior, chief executive of Big Society Capital, said: "It’s great that we are now reaching nearly 300 organisations, and all credit to the teams here, the social investors, and the charities and social enterprises.
"But we know that there are many more social organisations that could benefit. We want to reach a point where social investment can be a valuable and readily accessible tool in the toolbox of every charity or social enterprise."