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Better Society Capital

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Investment thesis

Better Society Capital (BSC) is the UK's leading social impact investor and the world's first social investment wholesaler, established in 2012 with a £600m fund seeded from dormant bank accounts. Its mission is to grow the amount of money invested in tackling social issues and inequalities in the UK. BSC operates as a wholesale investor — deploying capital through fund managers, social banks, and intermediaries rather than directly into enterprises — with the explicit goal of mobilising multiples of its own capital from private, institutional, and government sources. Every investment thesis begins with a social problem, not a financial product. BSC's 2026–2030 strategy focuses on four challenge areas: housing, economic opportunity, health, and climate and energy. Its ambition is to mobilise £20–30 billion in capital and positively impact 15–20 million lives over the next decade. It invests in venture capital fund managers who back impact-driven startups, in social lending intermediaries, in social outcomes contracts (outcomes-based government-commissioned programmes), and in social and affordable property funds — channelling capital from pension funds, university endowments, charitable trusts, family offices, and mainstream institutional investors into organisations tackling the UK's most pressing social challenges.

Notable quotes

We do still see growth, and we think that is sustainable growth, because the needs are still there and there's still more organisations that can grow, take on more investment and make a difference.

Stephen Muers · Better Society Capital press release / Pioneers Post, November 2025 · 2025-11-26

We are particularly excited to see that in certain parts of the market, more mainstream capital is coming in, with institutional investors now recognizing that addressing social challenges can generate both compelling returns and meaningful societal value.

Philipp Essl · Better Society Capital 2024 Impact Report, February 2025 · 2025-02-18

During my five years here, I have learned how much difference can be made to some of the biggest issues facing UK society if investment capital is connected to the right organisations in the right way.

Stephen Muers · Big Society Capital CEO appointment announcement, April 2021 · 2021-04-28

Team

Stephen Muers

Chief Executive Officer

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Anna Shiel MBE

Chief Investment Officer

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Rebecca MacDonald

Managing Director, Head of Investment Management

OtherFintechHealthtech

Douglas (Dougie) Sloan

Managing Director, Impact Venture

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Philipp Essl

Managing Director, Impact

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Joe Shamash

Investment Director

ClimateOther

Recent investments

CompanyRoundSizeDate
Stream (formerly Wagestream)Series D$90m2026-01-20
Ascension Fund IIIFund investment2024-01-01
Bridges Social Outcomes Fund IIFund investment$35m2018-01-01
Bethnal Green VenturesFund investment2020-01-01
Eka VenturesFund investment2020-01-01
Ada VenturesFund investment2020-01-01
Schroder BSC Social Impact Trust plcListed trust / IPO anchor$95m2020-12-01
Resonance Homelessness Property FundsFund investment2019-01-01
Social and Sustainable Capital (SASC)Fund investment2020-01-01
Wagestream (debt facility)Debt / growth$390m2025-05-07

Frequent co-investors

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