alex nicholls, social investment,tsrc esrc nesta, 27 nov 2012

The Social Investor Landscape

Dr Alex Nicholls MBA

Alex.Nicholls@sbs.ox.ac.uk

University Lecturer in Social Entrepreneurship

Fellow of Harris Manchester College

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Impact Investing

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New Market Creation

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Policy

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Innovation

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International Interest

Social Innovation Social Innovation FundFund

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Social Innovation FundSocial Innovation Fund

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Investor Perspectives

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Social Finance

Any flows of capital that start-up, sustain, or grow individual, group, organizational, or sectoral action aimed primarily at generating social and/or environmental value, often in

the form of new public goods or additional positive externalities

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Social Finance

Social finance, therefore, is more than just the flow of money into social or environmental projects. It is conceived

as an ethos about the way money is used…social finance can be seen as the discourse around such flows that is

developing in concrete terms in the new institutions of supply, intermediation, and demand. This is a discourse in flux with competing perspectives driving the

debatePharoah and Nicholls (2007)

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Institutional Logics

• Value Creation• Financial• Blended• Purely Social/Environmental

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Value Creation

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Value Creation

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Investor Rationalities• Instrumental (zweckrational)• Systemic• Values-Driven (wertrational)

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Social Finance Markets