The Editor's Post: Did I provoke the largest political donation in UK history?

Did I provoke the largest political donation in UK history?

Three weeks ago, I wrote about the striking scarcity of impact funds investing in peace, justice and strong institutions (the pillars of democratic and inclusive societies, grouped together under SDG16). 

And it isn’t just me that’s worried about this. The topic was a core debate at Latimpacto’s Impact Minds conference in Manaus last week, as covered by Pioneers Post editor Julie Pybus. 

Then suddenly, the news broke that crypto billionaire Ben Delo (pictured above, left) had injected £36m into Nigel Farage’s (pictured above, right) Reform UK, a sum immediately matched by fellow tycoon Christopher Harborne. Writing in the Telegraph, Delo claimed his record-shattering generosity was simply to “level the democratic playing field”.

I would love to think that Mr Delo was so deeply moved by my article that he rushed to open his chequebook. But it goes without saying that this was definitely not an impact investment.

While Delo argues he is merely supporting democratic balance, a Guardian and Hope Not Hate investigation earlier this year placed him at the centre of a network of right-wing figures operating out of a Westminster club called The Sanctuary. Furthermore, the source of his wealth has also been called into question. While Delo calls his former crypto exchange, BitMEX, an “honest shop”, the US Department of Justice described it as a “money laundering platform”. Delo pleaded guilty to anti-money laundering violations before receiving a presidential pardon from Donald Trump.

Taking all that into account should make it abundantly clear why, despite what Mr Delo argues, large individual donations to specific parties are not the most desirable way to strengthen democracies.

So, apart from giving us a reason to express our distaste or disappointment, why is this tale of political patrimony from the UK relevant to people working in the impact space? Could impact investing provide a better way forward?

The answer perhaps lies back at the Impact Minds conference in Brazil, where my colleagues spoke to Gabriel de Carvalho Morais, a director at RenovaBR – a non-profit that describes itself as the country's “largest political training school”. RenovaBR is working closely with impact investors to position democracy-building and civic education as critical social impact goals.

Morais told Pioneers Post how his organisation trains potential political leaders with the aim of creating what it calls a “more participatory and informed democracy”.

“What we really want to do is to create a good range of new political leaders for the country,” Morais explained. “If the voters don’t have a good range of options, they’re going to have no one to vote for, no one who is a good representative.” 

Crucially, Morais explained how RenovaBR is actively diversifying its income away from single individuals to safeguard its institutional sustainability and protect its multi-partisan independence.

There is a profound lesson here for Mr Farage and Reform UK. While Reform’s rapid expansion relies on a high-risk dependency on a few billionaire patrons, the impact economy points to a far more sustainable blueprint: investing capital into the basic infrastructure of democracy, rather than bankrolling specific factions.

For our community, the takeaway goes deeper than a critique of UK politics. It requires a shift in how we define social impact.

For years, impact capital has flowed into areas such as green tech, healthcare, and affordable housing. Yet, as the Latimpacto discussions made clear, even the most innovative social projects cannot survive without political stability. Environmental and economic progress are entirely dependent on honest, transparent public governance. If the political system breaks down, our investments fail too.

The RenovaBR model proves that civic health is a foundational asset. By funding open, multi-party training schools instead of bankrolling individual election campaigns, we can protect democratic institutions from being bought by the ultra-wealthy.

It is time to stop reacting to the distorting power of concentrated wealth in politics, and start proactively investing in the collective systems that keep things fair. After all, if we do not fund the foundations of our democracies, someone else will.

This week's top stories:

Asia's problem isn't money, it’s the lack of coordination, says AVPN's Naina Subberwal Batra

Europe on fire: why the EU should partner with the social economy to face its hardest challenges

Democracy under pressure: what role should impact investors play?

The Impact World this Week: 18 September 2026

Top image: [l to r] Ben Delo (credit: Anne Schwarz Photography) and Nigel Farage (credit: House of Commons)