A social impact investment fund deployed to help diverse social entrepreneurs has now helped more than 65,000 people facing systemic inequities across the UK.

The Growth Impact Fund, launched by Big Issue Invest and UnLtd, has now supported social investments totalling more than £2m since it was launched in 2022.

Initially introducing the fund in response to the Adebowale Commission, the Big Issue Invest and UnLtd highlighted a lack of inclusivity and equity in the investment market and found that social investment had “not met the needs” of underserved populations.

Two years on, a new report has shown how the fund’s investments have supported those from racialised minorities, students, people in prison, long-term unemployed neurodivergent job seekers, and LGBTQIA+ young people. All (100%) of the fund’s portfolio is diverse led, and 75% of those who have received investment are new to the investment process.

The report also revealed that there has been significant demand for Growth Impact Fund investment. As of March this year, the fund had received a total of 900 applications totalling £250m of requested funding, with the majority demanding equity.

Head of investment at UnLtd, Trishna Nath, said that the new report showcases the fund’s role in increasing opportunities for “social entrepreneurs traditionally underserved by the investment market”.

“By providing these individuals with access to capital and advisory support, we have empowered them to make a more significant impact on their communities and have established a blueprint for the broader social impact sector to follow,” Nath said.

Investment director at Big Issue Invest, Sarah Faber, added: “We’re proud of the impact that we have made in partnership with the social purpose organisations in our portfolio. The fund is committed to breaking the systemic barriers that founders from underserved communities face, and I’m so proud that 100% of our investments have met these criteria.”

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