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Social Finance$
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Alex Nicholls, Rob Paton, and Jed Emerson

Print publication date: 2015

Print ISBN-13: 9780198703761

Published to Oxford Scholarship Online: December 2015

DOI: 10.1093/acprof:oso/9780198703761.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 03 December 2021

Social finance

Social finance

Does ‘investment’ add value?

(p.45) 1 Social finance
Social Finance

Geoff Mulgan

Oxford University Press

The chapter considers some of the origins of social finance and analyses eight different types of investment that are sometimes conflated under this title. It critiques some of the discourses around social finance and notes the weak evidence base on the actual value added of bringing investment approaches and methods into the social sector. A detailed analysis of the development of the UK ecosystem for social finance draws upon the author’s own involvement in some key initiatives. Four key challenges are highlighted around returns, definitions, impact, and scale. The chapter concludes with some observations concerning the likely future development of this field.

Keywords:   social finance, pay for success, social return, impact, scale

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