Big Society Capital expects to make £50m in investments and commitments this year, as it plans to announce on Thursday that it has made £37m in investments since its launch in April.

The event on Thursday, which is being held with the City of London at the Guildhall, will be attended by minister of state for the Cabinet Office, Oliver Letwin, and minister for civil society Nick Hurd.

Big Society Capital will announce it has made 12 investment commitments, ranging in value from £0.5m to £10m. The total value of commitments is £37m.

A Big Society Capital spokesman told civilsociety.co.uk that it was on target to make £50m in investment commitments by the end of the year.

It is also understood that the City of London will announce a parallel donation of £20m to social enterprises at the event.