'Fundraisers' needed for Big Society financing

The social finance sector needs "fundraisers" in order to attract investment from private banking services, institutional investors and high net worth individuals with private wealth.

That is according to Nick O'Donohoe, chief executive of Big Society Capital, which is being established to develop a national market for socially responsible investing.

Third Sector reports that he was speaking at an event organised by think tank New Philanthropy Capital and claimed that a "sales department" consisting of specialists is required to persuade interested groups to invest their cash.

"In the private sector we called them capital raisers. The voluntary sector might call them fundraisers," he was quoted as saying.

"You need people with whom investors become comfortable, who they speak to on a regular basis, who can understand their needs and who eventually show up with a pitch."

Mr O'Donohoe also highlighted the need for a new measurement system that will enable investors to more easily compare the social impact of different investments.

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