A portfolio company of the UK’s largest impact investor Big Society Capital is closing down, despite being profitable, due to what its chair calls a “mismatch between supply and demand” in the market.
Numbers for Good provides advice and capacity building support to UK charities and social enterprises. It supported capital-raises for a number of social impact bonds and especially helped organisations tackling homelessness raise loan finance. Overall it has helped raise £6m of social impact investment.
But despite ending the last financial year in profit (£114,558 in financial assets), the board of Numbers for Good has taken the decision to cease trading on March 29 with a positive balance sheet and all creditors repaid. This includes a £250,000 loan from Big Society Capital.
Speaking to RI, Mark Hannam, chair of Numbers for Good said: “For the first six months of this financial year up to the end of January we’ve been profitable ag…