We know that many of the issues we seek to address as a charitable foundation are the result of “market failure”. For those investments, by definition, we will need to be less ambitious around the financial return we are looking to achieve. 

For our "impact-first" investments, we will consider: 

• Direct investment in a charity or social enterprise which is wholly or substantially aligned with our mission
• Investment in a fund managed by another organisation, where the purpose of such a fund and its underlying businesses aligns wholly or substantially with our objectives. In this way, we can pool risk and spread it across several different investments. The managing organisation can also provide expertise in assessing and managing the financial and operational risks of the projects they support. 
• Investment to support our strategic priorities for community-organisations. For example, investment in a reputable delivery organisation with national reach which is able to support smaller, locally-based community organisations.