In brief: Big Society Capital changes its name

Big Society Capital, the social impact investor, has rebranded as Better Society Capital, according to an announcement on Monday.

Chief executive Stephen Muers said: “Better Society Capital has now been working to bring investors alongside us to tackle social problems for over 12 years, and we have seen remarkable success from the organisations that we have been able to support. This evolution to Better Society Capital provides opportunity to reaffirm our mission and open up new opportunities to help maximise value for government, private investors and the social purpose organisations who need it.”

Better Society Capital was set up as an independent organisation to grow the UK social impact investment market. The idea for the organisation was first conceived in the early 2000s and was ultimately launched by Conservative prime minister David Cameron in 2012 as part of a Big Society initiative. It has invested £925 million ($1.2 billion; €1.1 billion) into the sector since launch. Its fund commitments include CBRE UK Affordable Housing Fund (£30 million), Ananda Impact Fund IV (undisclosed) and Bridges Evergreen Holdings (BEH) (£30 million)