Better Society Capital (BSC), founded in 2012 under the name Big Society Capital, says its objective is to commercialise social impact investment by ensuring that economic incentives exist for firms to align their actions with the goals of society, according to Private Equity Wire. BSC started with £400m from dormant bank accounts and £200m from Barclays, HSBC, Lloyds and NatWest, according to Private Equity Wire.
Origins and capital base
BSC was founded in 2012 under the name Big Society Capital, according to Private Equity Wire. BSC started with £400m from dormant bank accounts and £200m from Barclays, HSBC, Lloyds and NatWest, according to Private Equity Wire.
BSC’s objective is to commercialise social impact investment by ensuring that economic incentives exist for firms to align their actions with the goals of society, according to Private Equity Wire.
Investment approach and positioning
BSC commits capital to specialist fund managers and intermediaries that are focused on delivering a positive impact, according to Private Equity Wire. BSC describes itself as a “social impact wholesaler” and says it acts as a fund of funds for impact investors, according to Private Equity Wire.
BSC’s goal is to be a first mover and encourage co-investments from other capital sources that it says will help to develop new markets and commercialise social impact opportunities, according to Private Equity Wire.
Stories of Transformation episode topics
Private Equity Wire’s “Stories of Transformation” episode features Gemma Bourne, a managing director at BSC who leads its social property investment strategy, according to Private Equity Wire. The episode covers how BSC works to create new markets, according to Private Equity Wire.
The episode also covers encouraging outside capital and BSC’s base of permanent capital, according to Private Equity Wire. The episode covers measuring social impact and social housing KPIs, according to Private Equity Wire.
The episode covers how BSC approaches mixed-use projects and manager selection, according to Private Equity Wire. The episode covers the attributes BSC is looking for and balancing impact with financial returns, according to Private Equity Wire.
Context
A “fund of funds” is widely understood to allocate capital to other funds or managers rather than investing directly in underlying assets. “Co-investment” is widely understood to refer to additional capital alongside a lead investor into the same opportunity.
