Definition of Big Society Capital

Big Society Capital is an entity formed by the UK government in 2012 to invest in UK projects that aim to have a positive social impact. At its disposal is money from dormant bank and building society accounts in the UK that were made available for government use by the Dormant Bank and Building Society Accounts Act of 2008. Big Society Capital has also been seeded with £50m each in capital injections from four high street banks – Barclays, HSBC, Lloyds Banking Group and RBS – who each own 10 per cent of shares in Big Society Capital. 

 

Big Society Capital in the news

In September 2013, Big Society Capital announced investments worth £37m. The two biggest were each of £10m. The first went to Results Fund, which provides finance for social sector organisations competing for government "payment-by-results" contracts, including through social impact bonds. The second went to Impact Ventures UK Fund, which provides growth capital for social enterprises.

FT Articles & Analysis

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