The social arm of The Big Issue has invested £1.5m in a lottery business which supports the hospice and wider charity sector across the UK.
Big Issue Invest (BII) made the investment into St Helena Hospice for it to grow its lottery services and generate more income to support both its hospice services and those of 13 other hospices and seven charities across the UK.
The lottery currently has an annual gross income of just over £4m and makes around £1m profit for St Helena, additionally contributing over £1m to other hospices and charities.
Commenting, BII investment manager, Jonny Page said: “We are so pleased to invest £1.5m into St Helena to facilitate further growth of their highly innovative and wide-reaching lottery business. We are excited to continue to work with St Helena as they generate income for not only their own hospice, but the wider hospice and charity sector.”
BII made the investment in September this year from the Big Issue Invest Social Enterprise Investment Fund II LP (SEIF II), a £23.8m investment fund that follows on the success of Big Issue Invest’s first (SEIF I) fund, which has invested over £8m into 21 social enterprises.