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A group of big-name investors is putting their money where their mouth is to fight social inequality.
Bank of America and the Foundation for Social Investment are among the backers of a £25 million fund that will invest in "diverse-led social enterprises tackling inequality in the UK," the Guardian reports.
The fund, called the Growth Impact Fund, is being created by Un Issue, Big Issue, and Shift.
The idea is to make it easier for people from underrepresented groups to start social businesses.
"The Adebowale Commission on Social Investment concluded that the social investment sector has not done enough to unlock the needs of social enterprises, and in particular that it has serious problems with race," says the head of investment at Un Issue. "This fund was created to address that."
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