The Office for Civil Society has announced £3.1 million in funding from dormant bank accounts for new projects to support investment in local communities. The Big Society Investment fund which has been set up in advance of the launch of Big Society Capital (formally the Big Society Bank), will invest in four projects including supporting vulnerable young adults to enter employment and the creation of the social stock exchange.

The four organisations receiving funding are:

• Franchising Works
• Triodos Bank
• Community Generation Fund
• The Social Stock Exchange

More investments will be considered by the Big Society Investment Fund at the Investment Committee in February with Big Society Capital due to be fully functional by the end of March 2012.

Tags: Big Society

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