Founded in 2014 the ABB FIA Formula E World Championship (“Formula E”) is the world’s first electric racing series. As the first sport to be net zero since inception, Formula E sees itself as a catalyst to a more sustainable future that aims to provide a space for car manufacturers to develop the technology that will ultimately fuel electric cars on the road. With preparation for Season 10 of the Championship underway, 11 teams, including Chinese NIO 333 Racing, Maserati MSG Racing and TAG Heuer Porsche, Formula E Team will be competing for the Drivers’ and Constructors’ titles in 17 races across 5 continents. Each Formula E team is subject to a rigorous cost cap, which covers the direct costs of racing. This applies to the amount of resources and the technology they can deploy in the vehicle and the driver preparation.
As Formula E is still a new organisation, experts have pointed out that both the growth and monetisation potential of Formula E remains considerable, especially insofar as the sports low sound and gas emissions mean it can schedule races where no other premiere motorsport championship can race, such as around Tokyo Big Sight in Tokyo’s Bay area.
While this year’s season 10 schedule (“racing calendar”) is already fixed, Formula E is now exploring new options for next year’s season 11. Yet, changing Formula E’s racing schedule, and especially adding more races presents a dilemma, as Formula E must design a schedule that balances various competing priorities.
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Founded in 2005, Big Issue Invest (BII) is a social impact investment manager. BII currently manages impact funds for third parties and government with a value of around £143m. Over the years, BII has raised about £75m of funds, £50m in its FCA regulated fund management subsidiary and £25m on balance sheet from various social purpose sources. BII advises on impact for £400m of quoted funds. BII has about 150-200m investments at any point in time, which are mainly, but not exclusively, loans to charities and social enterprises. BII has recently raised its fourth and fifth new funds: Growth Impact Fund – a Venture Capital fund currently £10m with a final target of £25m, and the BII Senior Debt Fund IV, with a final target of £75m.
BII has a vision of being a broad-spectrum finance provider, serving impactful organisations, from start up, early-stage operations, through to small- to- medium sized social enterprises, and larger, scaling social enterprises. It spans impact first investing, through to providing investment opportunities for mainstream investors, who wish to explore the impact space, without sacrificing a more conventional risk/ return profile.
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Selected resources on implementation plans. Please note, these links are for informational purposes only. We do not condone or support any of the organizations providing this information. We cannot guarantee its accuracy.
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