Listening to feedback and making tangible changes in response isn't easy, says UnLtd's David Bartram – but Big Society Capital's recent proposals will not drive the transformation needed to support purpose-led ventures.
Growth Impact Fund developed by UnLtd, Shift and Big Issue Invest described as “fundamentally different” – aiming to back long-overlooked entrepreneurs and provide model for more inclusive social investment.
Covid-19 has highlighted the fact that many common forms of social investment are inflexible and have failed the social enterprises they seek to support, says Ben Smith, head of social investment at Esmée Fairbairn Foundation. But being patient and flexible is not without its challenges.
In the first of a series looking at 'patient, risk bearing' capital, Duncan Brown asks why social investment is so dominated by short-term, rigid debt instruments – and why there's so little support for higher risk, high return social innovation.