Disability charity Scope has closed its first issue of bonds, worth £2 million, under its £20 million social investment programme. The money will be used by the charity to invest in its income generation activities, including fundraising programmes to grow its supporter base and expand its network of charity shops.
Scope was one of the first UK charities to enter the capital markets with its social investment bond programme, developed in partnership with Investing for Good.
Investors have been attracted by the bonds’ combination of financial returns coupled with social returns delivered through the charity's work.
The success of the programme following its listing on the Euro MTF Stock Exchange Luxembourg last year, says the charity, "reflects [the] growing appetite from investors for social investment products". Investors in the bonds include Rathbones, NESTA, Esmée Fairbairn and Panahpur.
Richard Hawkes, Chief Executive of Scope, said: "The response to the Scope bond programme has been unprecedented and demonstrates that there are investors out there who are looking for products that offer them social returns as well as financial ones.
"Diversifying our financial support is a key priority for Scope, especially in the current economic climate and the bonds create an alternative way for people to support our work alongside the philanthropic loans and traditional donations we receive."