The Big Shares Issue

THE two women who ran the homeless magazine, The Big Issue In The North, are to float their investment firm on the Alternative Investment Market this month. Anne McNamara and Val Chinn have set up Fsquared, 'finance fair and square', to invest in ethical companies such as those in healthcare or dealing with social issues.

McNamara, 33, who co-founded the magazine in Manchester in 1992, will be chairman and Val Chinn, who ran it, chief executive. About 30% of the shares will go to private investors and the pair hope to raise £20m.

McNamara says: 'We will invest in firms that put more into the community than others in their sector and have rapid-growth potential. 'Many 'social businesses' cannot grow because they can't get funding and they don't want a bank loan. Fsquared will meet that need.'