UCIT has announced that it is making an investment of £250,000 to Big Issue Invest's Social Enterprise Investment Fund in order to bring the fund to Northern Ireland.

UCIT’s partnership with Big Issue Invest will enable social enterprises in Northern Ireland to access a fund of £10 million and comes at a time when the banking sector and traditional sources of grant funding are less able to assist the sector.

The Social Enterprise Investment Fund is dedicated to investing in social enterprises that combine the pursuit of profit with the wider social aims of serving disadvantaged or vulnerable people. It provides a route for corporates, charitable trusts and wealthy individuals to use their capital to achieve social or ethical or environmental objectives, as an alternative to pursuing the traditional charitable route.

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-authorised Fund Manager.

Commenting on the partnership, Nigel Kershaw said: “We are very proud to be working with UCIT in Northern Ireland. Together we can bring financial innovation to support social enterprises that are delivering business solutions that seek to dismantle poverty”.

The investor list at first close also includes Deutsche Bank, the Esmee Fairbairn Foundation and the National Endowment for Science, Technology and the Arts (NESTA).

For further information regarding the Social Enterprise Investment Fund please contact UCIT on tel: 02890 315003.

Pictured are (L-R) Brendan Whelan, CEO, Social Finance Foundation, Arlene Foster, Minister of Enterprise, Trade and Investment, Seamus O’Prey, Chairman, UCIT and Nigel Kershaw OBE, CEO of Big Issue Invest