This brings the total fund size to £500m.

The Henry Smith Foundation backs organisations working at critical points in people’s lives, delivering housing but also investing organisations and systems that support stable accommodation.

This is the first time an investor from the UK endowment and foundation sector has invested in the fund.

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“We’re delighted to have received further support from the Endowment and Foundation sector, where we feel our fund is uniquely placed in providing mission aligned investment by developing high quality and environmentally sustainable affordable homes,” said Jack Burnham, head of affordable housing at Octopus Capital.

“The story of the Henry Smith Foundation is a perfect fit for what the fund is trying to achieve.”

William Sieghart, chairman at the Henry Smith Foundation, added: “For us, social housing is not only a social priority.

“It is also an investment opportunity, one that allows the endowment to grow while contributing to solutions rather than adding pressure to the housing market.

“Our aim is for the endowment to generate sustainable returns in ways that align with our purpose and strengthen the systems our partners work within.”