Today Big Issue Invest announced it had raised over £21 million into its Social Enterprise Investment Fund II (SEIF II) in its first round of fundraising commitments.
SEIF II will invest into businesses which drive positive social change as well as a financial return. It follows on from the success of the first Social Enterprise Investment Fund (SEIF I) which raised £9.2 million in 2010 and has made 25 investments into 21 different social enterprises tackling a range of social issues such as youth unemployment, financial inclusion and healthcare.
As an existing partner of Big Issue Invest, Big Society Capital has invested into SEIF II alongside a number of organisations including the Joseph Rowntree Foundation, HSBC and the Bankers Benevolent Fund.
It is fantastic to see that Big Issue Invest has already made a number of investments from the fund into pioneering social enterprises such as HCT and CASA. This money will help these organisations effectively deliver services which make a positive difference to society.
Fundraising for SEIF II will continue in 2016 with the goal to reach a total fund size of £30 million.