It’s been nearly three years since the world's first impact investment fund for arts and culture began backing projects. Two key lessons have emerged, explains Nesta's director of arts and culture programmes.
Eight arts organisations have taken loans from the Arts Impact Fund. So who's getting how much at what rate and over how long? And more importantly, what sort of social impact will we see being created?
We probably ought at least to allow the possibility that social innovations can be more harmful than beneficial, and stop seeing them as good by definition, write Madeleine Gabriel and Julie Simon of Nesta.