Our social investment is flexible repayable finance that supports charities and social enterprises aligning with our vision for a poverty-free future.
Our flexible repayable finance helps charities and social enterprises achieve their mission and increase their impact.
Since 2015, 5% (currently set at £20 million) of JRF’s endowment has been allocated to social investment. Our social investments are a mix of direct investments (from JRF to charities and social enterprises) and indirect fund investments (from JRF to fund managers, who then invest on to charities and social enterprises).
Through these investments, we support organisations that further JRF’s overarching mission to speed up and support the transition to a future free from poverty, in which people and planet can flourish.
If you have any questions about social investment at JRF, please contact the team at socialinvestment@jrf.org.uk.
Or discover more about the process, timelines and eligibility criteria for applying for social investment.
In line with JRF’s focus on specific directional change, we have advocated and promoted the real Living Wage within the social investment sector, resulting in an extension of the Living Wage Funder accreditation to include social investors.
To contribute to systemic change, we have funded organisations creating deeper, more foundational shifts needed for a more equitable and just future. This includes our investments in BelleVie and the Resolution Foundation’s Workertech Partnership. We also recognise the need to build much-needed infrastructure for change in the social investment sector, and in 2023 we invested in Pathway Fund.
Alongside meaningful social impact, social investments are also expected to deliver a modest financial return with the minimum expectation that money can be returned so that it can be invested again. However, the overriding purpose of the investment is to contribute towards the achievement of JRF’s vision and mission.
We have invested a total of £3,625,000 in housing-related projects.
| Project name | Project description | Our investment |
|---|---|---|
| National Homelessness Property Fund | £44 million national fund to buy property to house people at risk of homelessness, supported by St Mungo's and Developing Health and Independence. | £500,000 limited partnership stake
|
| London Community Land Trust | £450,000 of development funds for affordable homes in London. | £100,000 community shares |
| Funding Affordable Homes | £88 million fund focused on affordable housing. | £500,000 limited partnership stake |
| York Refugee Housing | £500,000 direct investment to purchase homes for refugees in York. | £500,000 direct investment |
| Hartlepool Housing Heroes | Funding to purchase and renovate a house for care leavers to live in. | £75,000 loan |
| Social and Sustainable Housing | £64 million fund providing flexible loans to charities for the purchase of properties to house people experiencing poverty and hardship. | £1 million limited partnership stake |
| Micro Rainbow | A loan to fund provision of safe temporary housing for LGBTQI asylum seekers and refugees in the UK. | £400,000 loan |
| London Rebuilding Society | Funding to help older homeowners, who are income poor, to manage and finance refurbishment of their homes so that they can live longer and better in their own homes. | £250,000 loan |
| Women in Safe Homes | £29 million fund to buy property to provides safe, secure and affordable homes to women and their children at risk of and experiencing homelessness across the UK. | £300,000 limited partnership stake |
We have invested a total of £1,857,010 in projects to improve employment outcomes.
| Project name | Project description | Our investment |
|---|---|---|
| Glasgow Together | £2 million charity bond to purchase land and derelict property for renovation, providing jobs for people previously incarcerated. | £250,000 charity bond |
| Timewise | Growth capital to enable this flexible working consultancy to expand. | £250,000 loan |
| RefuAid | Supporting access to licensing or training for refugees in the UK. | £420,000 loan |
| WorkerTech Partnership (Resolution Foundation) | Funding and support to ventures using technology to improve the prospects of workers in low-paying and precarious jobs. | £150,000 loan |
| BelleVie | Funding to support scaling of high-quality care model that provides both good jobs and good care. | £400,000 equity |
| London Early Years Foundation | £1.5 million charity bond to fund growth in access to high-quality and affordable early years education in London, particularly for children from lower income households. | £187,010 charity bond |
| Generation | Funding to support provision of practical training bootcamps and employment support to help people into life-changing careers | £200,000 loan |
We have invested a total of £500,000 into projects focused on local neighbourhoods and communities.
| Project name | Project description | Our investment |
|---|---|---|
| YMCA Robin Hood Group | £3 million bond to fund development of YMCA Community & Activity Village in Newark to tackle social and health problems and offer better job opportunities locally. | £500,000 charity bond |
We have invested a total of £1,880,000 into widening access to financial services and support.
| Project name | Project description | Our investment |
|---|---|---|
| Leeds Credit Union | Subordinated debt to underpin the capital base of this major Yorkshire based credit union. | £250,000 loan |
| Fair for You | Charity providing loans for white goods and essential household items, as an alternative to high-cost credit providers. | £500,000 perpetual bond |
| Fair Finance | Support for microlending in London. | £180,000 equity |
| Five Lamps | Funding as part of a £5 million investment raise to help the North East based micro-lender expand its operations across the UK. | £500,000 loan |
| Great Western Credit Union | To provide long term patient funds to underpin growth of the credit union’s savings and loans service into underserved areas. | £350,000 loan |
| Lightning Reach | Support to grow online portal that connects individuals in financially vulnerable situations to the personalised financial support they need. | £100,000 equity |
We have invested a total of £6,100,000 into funds supporting diverse social enterprises.
| Project name | Project description | Our investment |
|---|---|---|
| North East Social Investment Fund | £10 million fund to invest in charities and social enterprises in North East England. | £500,000 limited partnership stake |
| Big Issue Invest SEIF II | £24 million fund to support growth of social enterprises nationally. | £500,000 limited partnership stake |
| Bridges Evergreen Fund | £66 million fund to hold long term investments in established mission-led organisations. | £500,000 limited partnership stake |
| Mustard Seed | A managed account to invest in for-profit social businesses tackling poverty in the UK. | £500,000 managed account |
| Fair by Design | £15 million fund managed by Ascension Ventures to invest in solutions addressing the poverty premium. | £3 million limited partnership stake |
| Growth Impact Fund | Around £10 million fund investing in early stage, growing organisations which tackle inequality in the UK and which have diverse representation at board and leadership level. | £250,000 limited partnership stake |
| Pathway Fund | Funding for 2 pilot programmes focused on racial equity in social investment: Enterprise Development Pilot and the First-time Fund Manager Accelerator Pilot. | £120,000 repayable grant |
Key Fund, Northern Impact Fund II
| A fund that supports organisations in the North and Midlands to develop or grow trading activity with blended grant and loan. | £500,000 loan |
| Ascension Fund III | £20 million fund managed by Ascension Ventures to invest in tech solutions to cost-of-living crisis. | £250,000 limited partnership stake |
JRF supports the view that effective management of environmental, social and governance (ESG) issues by companies we invest in is a necessary part of achieving good financial performance and long-term growth.
It is JRF’s view that companies that fail to effectively manage good governance and social and environmental risks can incur higher operating costs and loss of consumer and investor confidence. This can impact negatively on shareholder value.
JRF therefore seeks to incorporate ESG issues fully in its investment activities and be an active owner. It does this by:
The fund managers are expected to contact JRF if they are considering an investment in a company which may engage in activities which are in contradiction of JRF’s strategic priorities or its charitable objectives.
JRF may initiate shareholder resolutions, but this will only be with the approval of the full trustee body. Decisions on active participation in shareholder resolutions instigated by others will be the responsibility of the Chief Executive.
JRF’s responsible investment policy will be reviewed on an annual basis by the Investment Sub-Committee.
Within available resources, JRF will report annually on responsible investment issues.
