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Prepared by the UK Social Investment Forum
Triodos Bank doubles its lending to the third sector in 2007
Triodos, the social investment bank, has announced that it lent £33m, more than double the 2006 amount. It now lends more than £65m to the third sector in the UK. www.triodos.co.uk
Opportunity International wins City of London Sustainable City Award
Oxford-based microfinance charity Opportunity International (OI) won the finance category of the City of London Corporation’s Sustainable City Award 2008. The Category focussed on contributions to ‘pro-poor’ finance both in the UK and globally. OI was also awarded the prize for excellence in Sustainable Leadership. www.cityoflondon.gov.uk/sca.
Bridges Ventures wins Unquote Private Equity Award
Bridges, the venture capital company with a social mission, won the Fundraising of the Year award in recognition of its oversubscribed second fund, Bridges Community Venture Fund II, which raised £75m. Bridges Ventures invests in ambitious entrepreneurial businesses that can deliver social or environmental benefits as well as financial returns. www.bridgesventures.com.
Catalyst Fund Management launches £25m social investment fund
Catalyst’s new fund seeks to maximise financial returns in sectors where backing successful businesses also generates social returns. The fund will focus on sectors including ethical consumerism, education, health and the environment. Barclays Bank is investing £5m into the fund. www.catfund.com
Charity Bank receives its first investment from a community foundation
The Community Foundation for Northern Ireland has invested £100,000 in Charity Bank with the aim of enabling charities to break their dependence on European funding. It will not receive a financial return on the investment, but instead will claim a ‘social dividend’. www.charitybank.org.
Charity Bank in the North launches savings account for businesses
The Yorkshire Deposit Bond has been launched to enable businesses to invest in their communities as part of their corporate social responsibility programmes. The Bond offers interest rates of between 2% and 4% over a fixed 12-month period. www.charitybank.org/north.
Venturesome launches new social investment vehicle
The mechanism enables social enterprises to mimic selling shares by guaranteeing to sell a percentage of future revenues. www.cafonline.org.
Futurebuilders announces its first royalties-based investment
Futurebuilders England, the government backed fund, has made an investment in a healthcare social enterprise for which it will receive an agreed percentage of future annual revenues. www.futurebuilders-england.org.uk.
If you require further information on these stories or have a social investment news item, please contact Adam Ognall, UKSIF Deputy Chief Executive, at adam.ognall@uksif.org.
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