Big Society Capital, the £925 million impact investor once known as David Cameron’s Big Society bank, is changing its name as it positions itself to channel billions in private finance to organisations tackling social issues under the next government.
Its new name is Better Society Capital, which, it said, was a “clearer articulation” of its mission to help finance how Britain tackles pressing social problems, ranging from child poverty to affordable housing and prisoner reoffending rates. It wants to unlock £50 billion in private capital during the next ten years.
The change marks a break from its roots in the former Conservative prime minister’s Big Society initiative, which championed the efforts of civic society over government intervention to address social issues.
David Cameron’s Big Society was his flagship programme for the 2010 general election
ALAMY
Building on work carried