Impact Investing

As champions of better business, investing for positive impact has been close to our hearts for over two decades.

If you’re investing for positive social and/or environmental impact - whether in the UK or in the Global South - or if you’re a civil society organisation or mission-driven business raising finance, we can help.

We have a deep understanding of the issues faced by those seeking to make – or raise – investments which not only provide a sustainable financial return, but create positive value for society and/or the environment as well.

Most impact investing transactions call for a tailor-made approach, to honour the integrity and purpose of the organisation receiving investment. Our advice centres around this.

We don’t just advise on the law in this field, we shape policy and the most significant developments around it. We made the argument for the creation of the statutory social investment power for charities, created the Community Interest Company, worked with Government on the design of social investment tax relief (SITR), and structured key institutions such as Big Society Capital, Social Finance and Charity Bank.

As a B Corp, we’re also motivated by our values-driven commitment to positive impact. Impact investing has a key role to play in delivering on the UN Sustainable Development goals. We’re here to help organisations like yours to work towards eliminating poverty, improving health and education, reducing inequality, and building a sustainable, more prosperous future. 

You might be an impact investor looking to achieve real social change. Maybe you’re an ambitious business or start-up looking to embed purpose in your business, or a charity seeking innovative ways of raising investment to further your charitable purposes.

How we help
  • If you’re an investor, an intermediary or a civil society organisation looking for advice on your investment activities – whether in the UK or in the Global South – we can give practical, bespoke advice.
  • We can support you in structuring and documenting the whole spectrum of social finance and impact investing transactions and activities. This includes investments in the form of equity, quasi-equity (including revenue participation and royalties), loans (secured and unsecured, senior or subordinated), investment funds, crowdfunding and others.  We can also assist with navigation through the complex legal and regulatory issues that often arise, including related constitutional and governance issues.
  • We can support you in navigating through the legal and regulatory issues that may arise from your investment, including charity law and charity tax issues, FCA regulatory considerations and related constitutional and governance issues.
  • Our team also has significant experience in advising impact investment funds, development finance institutions, foundations and other development organisations on complex cross-border impact transactions (both equity and debt) throughout the Global South.
Explore

Protected: Purpose & Impact: your round-up | June

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Briefing for Charities & Social Enterprises | 16 June

Our weekly roundup of news and updates from across the sector. To help you navigate this week’s content, the links below will take you straight to content by topic. Charity Commission New grant-making guidance We have now looked at the Charity Commission’s new guidance for charities making grants to charities and other organisations in more …
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Events and roundtables for purpose-driven and impact-focussed businesses

Interested in networking and sharing ideas with senior leaders and legal teams within B Corps, social enterprises, impact investors, social banks, and other kinds of purpose-driven businesses? We regularly host events and roundtables to discuss the ‘impact angles’ on key legal and practical issues, and share best practice across a range of topics, including: If …
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Bates Wells Impact Report 2025

We are united as a firm in our values and in our purpose. We want to use the law as a force for good, helping charities and purposeful businesses to be better and bolder in their choices. We also want to be the best type of business that we can be, and to bring others …
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Creating a ‘Speak Up’ culture in purpose-driven businesses: The benefits of an effective whistleblowing framework

Bates Wells convenes the Impact Counsels’ Forum, a space for senior counsel working within impact investors, B Corps, and other purpose-driven businesses. The forum discusses the ‘impact angles’ on legal and practical issues faced by in-house legal teams. Recently, the forum explored the benefits of an effective whistleblowing framework and how that can support an …
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Meet our team