Ethex to help charities attract bond and share finance

Not-for-profit service aims to connect organisations with ordinary retail investors, says managing director Jamie Hartzell

Jamie Hartzell
Jamie Hartzell

A not-for-profit support service has been launched to help charities and social enterprises attract bond and share finance and connect with ordinary investors.

Ethex, a not-for-profit organisation, currently lists bond and share offers from charities and social businesses including Charity Bank, Golden Lane Housing and Bristol Credit Union.

Jamie Hartzell, managing director of Ethex, said it expected to list more soon.

"Our aim is to help only those people who are doing active social good, rather than just people who aren’t doing any harm, which is the most common form of ethical investment," he said. "We want all those investments gathered in the same place.

"We particularly want to connect these organisations with ordinary retail investors. Now we’re launching a package that will support share and bond issues."

The service will support several legal models, including industrial and provident societies that launch withdrawable share capital and charities that launch bonds, as well as companies limited by shares.

"This is really a service for organisations with an open-ended need for capital," he said. "It’s not for one-off projects like taking over the local pub."

He said the service was tailored for investments that would be "retailable".

"We want individual investors to be able to make small investments," he said. "We want to open this up to the mass market."

Hartzell said the service would help to develop and run any offer, and would also be able to manage investor payments and a secondary market in shares or bonds once the initial offer has taken place.

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