Social Stock Exchange seeks funding

Venture hopes to raise cash from businesses and private investors

The British company that hopes to run the world's first regulated stock exchange for social enterprises is seeking its first investors.

Mark Campanale, one of the two men running Social Stock Exchange, said his company had finalised a business plan and was looking for backers to set up a London-based exchange.

Campanale said he hoped to raise about £2m and expected to have a good idea of who would be interested in investing in the next three or four months.

"We have had discussions with people from all over the world," he said. "We are seeking investors from businesses, social investors and private individuals."

He said he expected to list only between 10 and 12 companies in the exchange's first year, but said it would expand thereafter.

Campanale said he envisioned the stock exchange being open to both social enterprises with a non-profit ethos and to profit-making businesses with a social purpose.

"In this situation, we will leave it up to investors to decide how ethical they want the company they invest in to be," he said.

Campanale said he expected to see interest from companies in other countries.

"We don't expect the majority of businesses we list to come from the UK," he said.

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