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Social investments

Five per cent (currently set at £20 million) of JRF’s endowment has been allocated to fund social investment.

Why we make social investments

Since 2015, JRF has been making social investments that contribute to our belief that poverty in the UK can be solved.

We help make positive changes, achieving social impacts such as affordable homes, good jobs and low-cost finance. Our social investments fulfil an expectation that the money can be returned, so it can be invested again.

For more information on social investment, please contact Denise Holle or Harmony Chan at

Our current social investments

Through to 31 December 2022 we have committed around £14 million to 32 social investments. We've made direct investments into charities and social enterprises. Examples of organisations we've supported include:

Our investment in Fair by Design

Our largest social investment is a £3m commitment to the Fair by Design Venture Fund. Managed by Ascension Ventures, this fund directly invests in early stage ventures which aim to eliminate the poverty premium. This is where people in poverty pay more for the same goods or services such as energy, credit and insurance, than others do. Our co-investors in Fair by Design include Big Society Capital, Social Tech Trust, Comic Relief and Barrow Cadbury.

Alongside the Venture Fund is the Fair by Design Campaign. This is managed by Barrow Cadbury Trust and is supported by a range of grant funders including JRF. The Campaign works with government, regulators, business and the social justice sector. Through this collaboration, it is designing out the poverty premium and raising awareness amongst the public to bring about change.

Full list of our social investments

Here is a list of all of JRF’s current social investments (committed funds). This information was last updated in March 2023.

Project nameProject descriptionOur investment
National Homelessness Property Fund£44m national fund to buy property to house formerly homeless people with the support of St Mungo's£500,000
London Community Land Trust£0.45m of development funds for affordable homes in London£100,000
Funding Affordable Homes£88m fund to fund affordable housing and other social purpose property£500,000
York Refugee Housing£0.5m direct investment to purchase homes for refugees in York£500,000
Hartlepool Housing HeroesA loan to purchase and renovate a house for care leavers to live in£75,000
ACH£0.5m of funding to purchase houses and flats for refugees in Birmingham£200,000
Social and Sustainable Housing Fund£64m fund providing flexible loans to charities for the purchase of properties to house people experiencing poverty and hardship£1,000,000
Micro RainbowA loan to fund provision of safe temporary housing for LGBTQI asylum seekers and refugees in the UK£400,000
London Rebuilding SocietyFunding 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
Women in Safe Homes£29m fund to buy property to provide safe, secure and affordable homes to vulnerable women and their children across the UK£300,000

We have invested a total of £3,825,000 in housing projects.


Good jobs
Project nameProject descriptionOur investment
Glasgow Together£2m charity bond to purchase land and derelict property for renovation by ex-offenders£250,000
TimewiseGrowth capital to enable this flexible working consultancy to expand£250,000
RefuAidSupporting access to licensing or training for refugees in the UK£420,000
WorkerTech (Resolution Foundation)Funding and support to ventures using technology to improve the prospects of workers in low paying jobs£150,000
BelleVieFunding to support scaling of high-quality care model that provides both good jobs and good care£200,000
London Early Years Foundation£1.5m charity bond to fund growth in access to high-quality and affordable Early Years education, particularly for children from lower income households£187,010

We have invested a total of £1,457,010 in projects contributing to better jobs.

Project nameProject descriptionOur investment
Shared LivesDevelopment funding for replication of innovative, high quality community care schemes nationally£350,000
YMCA Robin Hood Group£3m bond to fund development of a Community & Activity Village in Newark to tackle social and health problems and offer better job opportunities locally£500,000

We have invested a total of £850,000 into community projects.

Financial inclusion
Project nameProject descriptionOur investment
Leeds Credit UnionSubordinated debt to underpin the capital base of this major Yorkshire based credit union£250,000
Fair For YouCharity providing loans for white goods and essential household items, as an alternative to high cost rent to buy£500,000
Fair FinanceSupport for microlending in London£180,000
Five LampsFunding as part of a £5m investment raise to help the North East based micro-lender expand its operations across the UK£500,000
Great Western Credit UnionTo provide long term patient funds to underpin growth of the credit union’s savings and loans service into underserved areas£350,000

We have invested a total of £1,780,000 into widening access to financial services.

Social impact funds
Project nameProject descriptionOur investment
North East Social Investment Fund£10m fund to invest in charities and social enterprises in North East England£500,000
Big Issue Invest SEIF II£24m fund to support growth of social enterprises nationally£500,000
Bridges Evergreen Fund£66m fund to hold long-term investments in established mission-led organisations£500,000
Mustard SeedA managed account to invest in for-profit social businesses tackling UK poverty£500,000
Fair by Design£15m fund managed by Ascension Ventures to invest in solutions addressing the poverty premium£3,000,000
Growth Impact Fund£8m 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

We have invested a total of £5,250,000 into funds supporting diverse impact enterprises.

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