The Big Issue has announced it is to invest £500,000 into the social care charity
Social care charity Cornerstone is to receive a £500,000 investment from The Big issue.
The magazine, which was set up to provide homeless people with work as street vendors, will make the investment through its Big Issue Invest social investment arm.
Founder of The Big Issue, John Bird MBE, revealed the news at a memorial lecture set up in honour of Nick Baxter, the founder and former chief executive of Cornerstone, held at Robert Gordon University in Aberdeen.
The investment will be used to help Cornerstone provide care and support services for adults, young people and children across Scotland who live with learning disabilities, physical disabilities and other support needs.
Edel Harris, Cornerstone chief executive, said: “It was a great honour to have such a high profile and hugely influential speaker such as John, talking at our second Nick Baxter Memorial Lecture.
We have been discussing a joint project for some time and are absolutely delighted that they have agreed to invest a significant amount of money in support of Cornerstone
“Much like John, Nick was an inspiration to so many and by holding these annual lectures, we want to ensure Nick's legacy and his commitment to ensuring that everyone in society had a chance to live a valued life won't be forgotten.
"Cornerstone is also extremely pleased to be working with Big Issue Invest. We have been discussing a joint project for some time and are absolutely delighted that they have agreed to invest a significant amount of money in support of Cornerstone.”
Big Issue Invest was launched in 2005 and extends The Big Issue Group’s mission by backing social ventures and charities which prevent and tackle poverty and create opportunity.
It has invested more than £27 million in over 330 organisations with the aim of improving the quality of life in communities throughout the UK.
Edward Siegel, director of Investments at Big Issue Invest, added: “We are very excited about this opportunity to support the further development of one of the country’s premier providers of social care.
“Big Issue Invest has known Cornerstone for a long time and, given our common values of self-help and people before profit, we have been looking for ways to work together more closely. This investment gives us that opportunity.”
