Last year was a big one globally for outcomes finance, with 12 new projects launched in 2015. The model was applied in new areas, such as healthcare and higher education, and strong results came from the U.K. and Australia. With such a fast moving field, it’s crucial we take time to reflect on how we […]Read More ›
Report Offers Guide to “Made in Canada” Social Finance Investment Funds
For an accessible guide to “made in Canada” social finance investment funds, look no further than the latest report from New Market Funds Society, “How it has been done” — Social Finance Investment Funds in Canada.
Offering eight rich case studies, the report brings to life the stories of a small but diverse component of Canada’s social investment fund universe.
The case studies include the Community Forward Fund, the Social Enterprise Fund, the Nova Scotia CEDIF Program, the Saint John Community Loan Fund, the Resilient Capital Program, Affinity Credit Union’s Community Development Department, SEED Winnipeg/Assiniboine Credit Union and Desjardins CRÉAVENIR Program.
These pioneers offer what they wish they’d known before embarking on their social finance journey, making the report a must-read for anyone looking to create, develop or transform a social investment fund.
From micro-loans for the disadvantaged to growth capital for budding social enterprises, the case studies illustrate wide-ranging approaches to everything from mission and formation to capital raising and deployment.
One striking commonality is the reality that moving from concept of community need to capital deployment is a long, hard journey, and even then self-sufficiency can be challenging for social finance funds. The report also brings to light the catalytic role of charitable foundations, credit unions and governments.
If you are interested in participating in a community of practice for social finance investment fund practitioners, please contact Lauren Dobell at Vancity Credit Union or Jane Bisbee of the Social Enterprise Fund.
The report, compiled and edited by New Market Funds CEO Garth Davis, was made possible through funding from Employment and Social Development Canada and the collaborative efforts of Vancity Credit Union.
New Market Funds Society is a federally registered charity, the purpose of which is to increase the efficiency and effectiveness of charities. Its sponsors include Tides Canada Foundation, Trico Foundation, Bealight Foundation, Vancity Community Foundation and Reseau D’Investissement Social Du Quebec.