Social venture bank ClearlySo closes £1.25m in funding
Funding will help London-based bank’s “3D investing” approach – financial return with a social conscience – enter the mainstream
ClearlySo, an social venture bank, has completed a £1.25m growth funding round led by Octopus – which takes a 12.3% stake in the company – with participation from Big Society Capital and eight angel investors.
Founded in 2008, London-based ClearlySo works exclusively with businesses and funds focused on having a social, ethical and environmental impact alongside financial return.
To date, the company has helped almost 100 clients raise more than £100m in in investment through its network of high-net-worth individual and institutional investors.
ClearlySo said the funding, which follows a £800,000 investment round in 2014, is evidence that so-called “3D investing” – where social, ethical and environmental impact is considered along with risk and return – is entering the mainstream.
Rodney Schwartz, founder and chief executive of ClearlySo, commented: “To be chosen by one of Britain’s most astute investment firms is obviously a privilege and further validates our approach. We look forward to deepening our relationship and accelerating how we bring impact to the mainstream.”
Chris Hulatt, co-founder of Octopus, said: “More and more people care about the impact their investment is having. ClearlySo is at the heart of this change and the growing consciousness in the UK around impact investing.”