SASC Publishes 2024 Impact Report: “What is Real Impact Investing and why it matters?”

We have just published our 2024 Impact Report and this year we’re asking a big question: what is real impact investing?

It’s a timely issue. As impact investing becomes more mainstream, it is essential we don’t lose sight of what the term should mean — funding organisations that are tackling society’s biggest challenges.

At Social and Sustainable Capital (SASC), we have always believed that real impact means being additional, supporting work that wouldn’t happen with traditional capital funding. That idea runs throughout this year’s report.

Our 2024 Headlines

  • £185.5m invested across 83 social investments by the end of 2024
  • £17.8m approved for seven new housing with support projects
  • SASH II closed at £42m, already supporting ten UK charities
  • Over £100m has been committed to supported housing since 2017

That’s strong, steady growth from £167.7m last year — and a big step up from £25.1m in 2016.

The first group of SASH II borrowers joins 25 existing charity partners across our other funds. Together, they’ll help thousands of people over the lifetime of their projects — and we are proud to play a part in their impact.

What We Mean by Real Impact

A 2023 study from Harvard found that just 12% of impact funds in the USA were backing projects that would not have been able to attract mainstream capital.

We are not aware of a similar study in the UK. However, we would not be surprised if the share of genuinely additional impact investment was similarly small here.

At SASC, we’re different. We fund organisations working at the sharp end of disadvantage — in housing, homelessness, domestic abuse, mental health, unemployment and poverty.

That’s why we’re excited to be launching a new High Impact Housing Fund with the Garfield Weston Foundation, designed to support people stuck in supported housing to move into independent living. It’s a huge gap in the system — and one we believe impact-first capital can help close.

More Than Just Numbers

Beyond the investment stats, this year’s report looks at how SASC’s funding is helping charities drive meaningful and lasting change, not just for their beneficiaries, but for their organisations too.

Charity CEOs featured in the report, from The Brick, Blue Triangle and IDAS, share how transformational our support has been, helping them secure homes for vulnerable people, grow their services, and increase their long-term stability.

And they’re not alone. Many partners have told us that:

  • Having a tested business plan builds confidence at Board and leadership level
  • Owning assets raises their credibility with commissioners and funders
  • Building equity gives them financial resilience for the future
  • We started funding housing projects in the hope that charity-led ownership would benefit service users. What we’ve seen is that it also empowers charities themselves — and that’s just as important.

Looking Ahead

But we know the work isn’t finished. The charities and social enterprises we support are facing real pressure — and we remain committed to being a source of long-term, flexible capital they can count on.

To download our impact 2024 Impact Report, click here.