social investment – an overview melanie mills, social sector engagement the past, present &...
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SOCIAL IMPACT WORKING ACROSS DIVERSE & MULTIPLE SOCIAL ISSUES Ageing population Adoption Fragmented communities Educational attainment Obesity Youth unemployment Homelessness Social isolation Social IsolationTRANSCRIPT
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SOCIAL INVESTMENT – AN OVERVIEW
Melanie Mills, Social Sector Engagement Director@Mel_BigSocCap
The Past, Present & Future
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EVERY CHARITY AND SOCIAL ENTERPRISE IN THE UK SHOULD BE
ABLE TO ACCESS APPROPRIATE AND AFFORDABLE FINANCE AND
SUPPORT TO GROW THEIR POSITIVE IMPACT ON SOCIETY.
SOCIAL INVESTMENTWE BELIEVE
2
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SOCIAL IMPACTWORKING ACROSS DIVERSE & MULTIPLE SOCIAL ISSUES
Ageing population
Adoption
Fragmented communities
Educational attainment
Obesity
Youth unemployment
Homelessness
Social isolation
Social Isolation
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ABOUT BIG SOCIETY CAPITALHOW THE MONEY FLOWS
Big Society Capital is an independent wholesale financial institution with a social mission, set up to help grow the social investment market.
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OUR VISIONFOR A SUSTAINBLE SOCIAL INVESTMENT MARKET IN THE UK THAT DRIVES SOCIAL CHANGE
InvestmentFinancial
Return
PhilanthropySocial Return
Social InvestmentFinancial &
Social Return
Finance for small &
medium-sized
charities Capital that allows innovation in tackling social
problems to quickly grow &
replicate
Mass participation
in social investment
Greater financial scale
in order to finance social
issues
Image: St Mungo’s Broadway
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OUR MISSIONTO SUPPORT AND GROW THE SOCIAL INVESTMENT MARKET
• Improving understanding of social investment• Creating a better environment for social
investment, e.g. tax relief• Encouraging mass participation more individuals
participating as social investors• Increasing awareness among charities and
social enterprises that might benefit from social investment
• £162 million drawn down with co-investment by the end of June 2015
• 39 Investments with additional £208m from co-investors
• General and specialist funds: loans, equity, regional, social issue, community
• Social Impact Bonds• Social Banks• Charity Bonds• Supporting market infrastructure
As an investorAs a market champion
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HOW & WHERE ARE THE INVESTMENTS BEING MADE?
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PORTFOLIO BY OUTCOME AREA
Portfolio – Asset type
Outcome Area Investments % commitments
Employment, Training & Education 3%
Income and Financial Inclusion 1%
Housing and Local Facilities
18%
Physical Health 2%
Mental Health and Well-being
6%
Family, Friends and Relationships 1%
Arts, Heritage, Sport and Faith 0%
Citizenship and Community 15%
Conservation of the natural environment 6%
GENERAL 44%
Infrastructure 14%
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HOW & WHERE ARE THE INVESTMENTS BEING MADE?
Key
Investment location
Investment location with multiple investments
Invest location with multiple outcome areas
As well as UK-wide organisations and digital projects, Big Society Capital, and the intermediaries it has invested in, have funded outcomes all over the country.
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SOCIAL INVESTMENT OPTIONS
Equity
Asset Ownership
Alternatives
Project Financing
Secured Loans Unsecured Loans
Community Shares
Venture Funds
Crowdfunding
Social Angels
Community Shares
Social Impact Bonds
Charity Bonds
Social Banks
Mainstream Banks
Crowdfunding
Unsecured Loan Funds
Social Investment Tax Relief
Social Property Funds
Asset Purchase Facilities
Social Investment Tax Relief
Social Investment Tax Relief
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Small & medium sized charities
Access will deliver a wholesale blended capital programme to offer smaller and riskier investments to earlier stage ventures. It will also commission flexible innovative capacity building programmes to support the social sector to become investment ready.
InnovationThe Business Impact Challenge is an open competition for corporates to propose high-impact social investment ideas. We will match the leading proposal with up to £15million and provide further advice and support.
Mass participation
There are an increasing number of individual investors putting money into community shares. £30milllion was raised in 2014 alone by 61 different organisations for a range of projects including community shops, pubs, renewable energy and sports facilities. We helped Resonance to further expand its Community Share Underwriting Fund to support this growth.
Scale
The charity bond market took significant steps in 2014. Golden Lane Housing became the first charity bond to be successfully listed on the London Stock Exchange and Rathbone's Charity Bond Support Fund was launched with £10million from Big Society Capital.
KEY DEVELOPMENTS IN 2014
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GET SITR CAMPAIGN
• MASS EDUCATION– Email, events, resources, media
• ADVISORS & PROVIDERS– Awareness, knowledge & expertise
• MARKET LEADERS– Support for first 30 deals– PR, legal, research, strategy, tax
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MASS PARTICIPATION
Social Pensions Social Savings & Investments
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Transparency #OpenBSC
In the publication ‘An open conversation about transparency’, Big Society Capital outlined a number of proposals in its roles as an investor, market champion and corporate organisation. Responses and suggestions were collected and as a result all 11 proposals will be progressed – update on next steps shared Oct 15
Outcome Finance Fund
2013:
2016:
In September 2015 Big Society Capital launched a call for an Outcome Finance Fund which it is hoped will build on the progress made in Social Impact Bond market and support social sector organisations in accessing finance for outcomes contracts. The design of the fund will be developed following conversations with charities and social enterprises as well as other stakeholders to ensure it meets their needs.
PLANS FOR THE FUTURE
?
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WWW.BIGSOCIETYCAPITAL.COM
Melanie MillsSocial Sector Engagement Director@Mel_BigSocCap