This article in the Financial Times announces the capitalization and official launch of Big Society Capital, a financing organization established by the U.K. government to support the social sector.

From original article:

"The Big Society Bank - now renamed Big Society Capital at the insistence of the Financial Services Authority, which has ruled it is not a bank - took another step forward on Thursday with the announcement of a heavyweight board and a trust to oversee it, and with news of its first investment.

"The investment company has also reached a settlement in principle with the big four UK high street banks over the GBP 200m that they have been cajoled into putting into the fund. They were demanding that the money be loaned on 'commercial terms.'"

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