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The UK's Big Society Capital is changing its name to Better Society Capital in a bid to better reflect what it does.
"We were stumped to find that the people weren't finding the name clear or helpful, and many new people didn't know us or the history," CEO Stephen Muers tells the Civil Society.
"We felt that Better Society Capital was a clear statement to that."
Muers says the name change is "not a radical shift" but "feels like the right thing to do."
Better Society Capital was established by the government in 2012 as an independent organization with $1.5 billion in capital from four high-street banks and dormant accounts to help grow the UK social impact investment market.
Since its launch, it has invested more than $1 billion and used that capital to unlock more than $4 billion from other investors for causes including homelessness, fuel poverty, and affordable housing.
Muers says the name change is especially important as the market grows and new people enter the field.
"In a market growing with new participants, we feel it's more important than ever to have a name that says what we're here for and captures the mission in a way the old one perhaps didn't," he says.
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