Funding news

Big Society Capital to launch fund for charities seeking contracts - 20 July 2012

The social investment wholesaler Big Society Capital will launch a £15 million 'results fund' to invest in third sector organisations competing for payment-by-results contracts, according to its chief executive Nick O’Donohoe.

Speaking at a Charity Finance Group meeting, O’Donohoe said Big Society Capital was in the process of selecting an organisation to manage the fund. "We have looked into creating several specialist funds, and one we’ve already talked about is a results fund," he said.

O’Donohoe said that Big Society Capital would be interested in developing more funds to target particular areas, and would not necessarily wait for applications from others.

He said he anticipated that 'four to six' more new funds would be launched in the next 12 months, and that his organisation had so far received about 35 credible applications to run new funds.