Social Enterprise Investment Fund
Ulster Community Investment Trust (UCIT) has partnered with Big Issue Invest (BII), a UK based provider of loans to social enterprises, to offer a new source of finance to social enterprises in Northern Ireland.
There is a clear need for a method to provide social enterprises with medium and long term funding that moves beyond grants, loans and venture philanthropy. Most social enterprises, due to their legal structures, cannot look to equity issuance as a ‘patient’ financing option. In response to this funding gap, the Social Enterprise Investment Fund offers ‘equity-like’ investment solutions, providing growth capital to social enterprises with the potential for scale and sustainability.
UCIT has made an investment of £250,000 into Big Issue Invest's Social Enterprise Investment Fund in order to bring the fund to Northern Ireland. The partnership with Big Issue Invest will enable social enterprises in Northern Ireland to access a fund of £10 million.
The Fund is led by social entrepreneur, Nigel Kershaw, OBE, CEO of Big Issue Invest and Chairman of The Big Issue. CCLA, the UK’s largest fund manager for charities, is the FSA approved Fund Manager.
For further information regarding the Social Enterprise Investment Fund contact UCIT on Tel: 02890 315003.