Catalyst secures £5m for ethical fund

Barclays has announced its intention to invest £5m into a new social investment fund managed by Catalyst Fund Management and Research, which is targeting a final close later in 2008 in excess of £25m. The new fund will focus on investments that generate social as well as financial returns, seeking to commit between £400,000 and £4.5m per transaction into profitable businesses in the burgeoning 'ethical consumerism' sector, as well as education, health, alternative energy and the environment. Big Issue Invest, the investment arm of The Big Issue, will partner with Catalyst in the fund, with Clifford Chance providing professional support.

Barclays previously invested in Bridges CDV Fund II in 2005, a £75m venture capital fund that invests in the most economically deprived 25% of the country and businesses that demonstrate strong social benefits.

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