Big Society Capital and Bristol Council invest £10 million in new place-based impact investment fund

 

Alliance magazine

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Big Society Capital and Bristol City Council have been announced as cornerstone investors in City Funds – a new place-based impact investment fund aiming to address the causes and effects of inequality, whilst also generating a financial return for investors.

City Funds will invest in impact-driven organisations alongside aligned grants and other resources to achieve positive social impact within key communities in Bristol. The fund will focus on economic inclusion, environmental transformation, community Initiatives and initiatives that help communities grow, purchase, prepare and cook fresh, healthy and affordable food.

Anna Shiel, Head of Origination at Big Society Capital, commented, ‘To tackle deep-rooted challenges such as inequality and poverty, we need thriving and inclusive local communities. We believe the best way to help foster this is to bring together investment, grant funding and government support for social enterprises and charities that use enterprise to improve lives in local areas. This is why we are championing place-based investment, and why we have chosen Bristol as our first partner. It is clear they are leading the way, with great energy, wide collaboration, and a strong plan.’

Ed Rowberry, City Funds board member said,Bristol is known for innovative problem-solving and City Funds is another example of a city determined to design home-grown solutions to local challenges. In the same way, this fund is designed to enable the real Bristol heroes—the local projects and businesses with the ambition to have a positive effect in our communities. As City Funds supports them to succeed, we will help make Bristol a place where everyone can thrive.’

For more see on City Funds visit: http://www.bigsocietycapital.com


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