Investors have now been named for Britain’s ambitious upcoming initiative, the Growth Impact Fund.
Access Foundation, the UK-based social investor, and Bank of America will both be grant investors for the £25 million social investment fund, which will focus on promoting racial justice and fighting inequality in Britain.
UK investors often look to experts in portfolio management in Chester, Shropshire and other areas for guidance on locating ethical assets to put their funds into. Wealth managers can establish tailored portfolios that only include assets that match the requirements of responsible investors, while ensuring they are still able to provide a substantial return.
Both Bank of America and Access will deliver grant capital to the fund. While the amount of investment provided by Bank of America has not been disclosed, it has been described as significant. The Access Foundation, however, has committed to giving several million.
The Growth Impact Fund has been developed by Big Issue Invest, Shift and UnLtd since 2020 and is expected to launch in the coming weeks. It is classified as a blended fund, which allows investors the ability to invest either equity or grants. It is expected that the fund will support between 50 to 60 socially focused enterprises and the first round of investments are likely to occur in July.
The fund is accessible by certain types of British social enterprises seeking to expand their impact. To qualify, companies can be diverse led or be focused on tackling issues of inequality.
