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, around 5% (currently set at £25 million) of JRF’s endowment has been allocated to social investment. Our social investments are a mix of:
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. Within the wider range of social justice topics on which JRF engages, our current focus for social investment is on models that drive structural change in the following areas:
For more background on our social investment programme, including how lessons of experience shape our current plans, you can read our reflections and lessons learned so far.
If you have any questions about social investment at JRF, please contact the team at socialinvestment@jrf.org.uk.
You can also 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 we hence have funded Pathway Fund and Resonance Community Developers.
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 £3,525,000 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) |
Hartlepool Housing Heroes | Funding to purchase and renovate a house for care leavers. | £75,000 (loan) |
Social and Sustainable Housing | £64 million fund providing flexible loans to charities for property purchase to house people experiencing poverty. | £1,000,000 (limited partnership stake) |
Micro Rainbow | Loan to fund safe housing for LGBTQI refugees and people seeking asylum in the UK. | £800,000 (loan) |
London Rebuilding Society | Funding to help older homeowners refurbish homes so they can live longer and better in their own homes. | £250,000 (loan) |
Women in Safe Homes | £29 million fund to buy property to provide safe, secure and affordable homes for women and children at risk of homelessness. | £300,000 (limited partnership stake) |
We have invested a total of £2,707,010 in projects to improve employment outcomes.
Project name | Project description | Our investment |
|---|---|---|
Glasgow Together | £2 million charity bond to purchase and renovate property, providing jobs for people previously incarcerated. | £250,000 (charity bond) |
Timewise | Growth capital to expand flexible working consultancy. | £250,000 (loan) |
RefuAid | Supporting access to licensing or training for refugees in the UK. | £420,000 (loan) |
WorkerTech Fund | £6.75 million fund backing startups using technology to improve the lives of people working in sectors where they experiencing low pay and insecure employment. | £1,000,000 (limited partnership stake) |
BelleVie | Scaling high-quality care model that provides good jobs and good care. | £400,000 (equity) |
London Early Years Foundation | £1.5 million charity bond to fund affordable early years education in London. | £187,010 (charity bond) |
Generation | Training bootcamps and employment support for life-changing careers. | £200,000 (loan) |
We have invested a total of £2,000,000 into projects focused on local neighbourhoods and communities.
Project name | Project description | Our investment |
|---|---|---|
YMCA Robin Hood Group | £3 million bond to develop YMCA Community & Activity Village in Newark to tackle social and health problems and create jobs. | £500,000 (charity bond) |
Library of Things | Supporting Library of Things to scale their network of sharing libraries across the rest of the UK and in Europe. | £500,000 (loan) |
Resonance Community Developers Ltd | Fund enabling community ownership through provision of pre-development investment and advice. | £1,000,000 (preference share in RCD Ltd) |
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 strengthen capital base of Yorkshire credit union. | £250,000 (loan) |
Fair for You | Loans for white goods and household items as alternative to high-cost credit. | £500,000 (perpetual bond) |
Fair Finance | Support for microlending in London. | £180,000 (equity) |
Five Lamps | Funding to expand North East-based micro-lender nationwide. | £500,000 (loan) |
Great Western Credit Union | Long-term funds to grow savings and loans services in underserved areas. | £350,000 (loan) |
Lightning Reach | Support to grow online portal connecting vulnerable people to financial support. | £100,000 (equity) |
We have invested a total of £6,120,000 into funds supporting diverse social enterprises.
Project name | Project description | Our investment |
|---|---|---|
North East Social Investment Fund | £10 million fund investing in charities and social enterprises in the North East. | £500,000 (limited partnership stake) |
Big Issue Invest SEIF II | £24 million fund supporting growth of social enterprises nationally. | £500,000 (limited partnership stake) |
Bridges Inclusive Growth Fund | £81.5 million fund for long-term investments in mission-led organisations. | £500,000 (limited partnership stake) |
Mustard Seed | Managed account investing in social businesses tackling poverty in the UK. | £500,000 (managed account) |
Fair by Design | £15 million fund investing in solutions addressing the poverty premium. | £3,000,000 (limited partnership stake) |
Growth Impact Fund | Around £10 million fund investing in early-stage organisations tackling inequality in the UK. | £250,000 (limited partnership stake) |
Pathway Fund | Funding for pilot programmes focused on racial equity in social investment. | £120,000 (repayable grant) |
Key Fund – Northern Impact Fund II | Fund supporting organisations in the North and Midlands to grow trading activity with blended grant and loan. | £500,000 (loan) |
Ascension Fund III | £20 million fund investing in tech solutions to the 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.
