The Big Lottery Fund has announced £6 million of funding for civil society organisations to support social investment proposals. Next Steps will fund proposals which improve the lives of communities and people who are most in need, through the development of robust social investment vehicles, and through learning more about social investment in practise.

Social investment is described as funding that leads to positive social change and seeks a financial return. The Big Lottery Fund defines social investment vehicles as, “a specific financial product (for example, social impact bond)  or fund (for example, a portfolio of loans).” 

Further details on the Next Steps fund can be found: here

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