A brief round-up of developments in the social investment world

Prepared by the UK Social Investment Forum

Sustainable City Awards to promote ‘pro-poor investment’

The finance category of this year’s Sustainable City Awards is recognising contribution to the development of pro-poor finance both in the UK and internationally. Applications close 3rd December.

Bridges Ventures raises £75m for new fund

Bridges Ventures has beaten its target by 50%, raising £75m for its second community development venture fund, Bridges Community Development Venture (CDV) Fund II. The new funds’ investors include banks and other financial institutions as well as pension funds, companies and trusts.

Cabinet Office consults on £10m risk capital fund for social enterprise

The proposed fund was announced as part of the Social Enterprise Action Plan.

cdfa lobbies on creation of Social Investment Bank

The Community Development Finance Association (cdfa) and its members are supporting the idea of the creation of a Social Investment Bank from the retail banks’ unclaimed assets which can be deployed and help grow a variety of third sector lenders. Separately, cdfa has launched a Code of Practice as a condition of membership, effective from next year. Currently over 70% of CDFIs comly.

Wessex Community Assets raises funds for CLTs

Community land trusts (CLTs) buy land and build affordable homes to support rural communities. Wessex Community Assets is seeking investments to support CLTs. CLTs raise the bulk (typically 70%) of their finances from banks or building societies. Wessex Community Assets is proposing to create a fund which would be used to help CLTs bridge the gap. Contact alison.webster@wessexrt.co.uk

Local Food Links created to make good food accessible and affordable

Local Food Links is raising investment from private investors to expand its hot meal service to primary schools in and around West Dorset. Contact tim.crabtree@socialenterprisewest.co.uk

Yorkshire Forward invests £10 million in ‘regional’ Charity Bank

Yorkshire Forward, the regional development agency, has invested the money to support third sector organisations in Yorkshire and Humber. The investment in a ‘regional’ office of Charity Bank is the first of its kind and will be used to provide loan finance.

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