VANCOUVER, Nov. 26, 2018 /CNW/ - The National Impact Investment Practitioners Table (NIIPt) applauds the Government of Canada's commitment to invest $805 million in a new Social Finance Fund over the next decade, including $50 million in investment readiness measures in the first two years.
By leveraging the long history of co-operative and community enterprise in this country, the Social Finance Fund will support collaboration across the social finance sector and help meet the rapidly-expanding demand among investors to simultaneously achieve social, environmental and financial goals.
Members of the pan-Canadian National Impact Investment Practitioners Table represent 20 established funds which have raised $520 million, now being deployed in communities across Canada, and 7 new funds actively raising another $1.2 billion. This new Federal support for social finance is warmly welcomed by a robust network of impact investors able to effectively amplify and accelerate new capital into social finance initiatives from coast to coast to coast. The Federal Social Finance Fund will support and strengthen a thriving ecosystem of intermediaries and entrepreneurs who are developing new business models to create jobs delivering positive social and environmental outcomes.
With our colleagues across the social finance ecosystem, we look forward to leveraging the Social Finance Fund to continue building more affordable housing, reducing our carbon footprint, employing vulnerable people and creating a more equal, generous and sustainable Canada. In mobilizing the commitment and capital of public, private and philanthropic capital in support of triple bottom-line outcomes, Canada has an extraordinary and unparalleled opportunity to model an inclusive economy to the world – mobilizing its strong foundations and very good fortune to be among the first countries to meet the Sustainable Development Goals.
About the National Impact Investment Practitioners Table
The National Impact Investment Practitioners Table was established in 2014. It is a pan-Canadian, mission-driven, bilingual and practitioner-led community of practice. Its members are Canadian-based and Canadian-owned; have an established capital base, provide capital to generate financial and social and/or environmental returns; invest primarily in non-publicly traded Canadian enterprises; and provide publicly accessible reports on their activities.
The Table brings together a wide range of Canadian expertise and works collaboratively to share best practices, identify shared policy priorities and speak as a single voice in shaping a strong, enabling environment for social finance in Canada and around the world. The NIIPT currently represents 20 social finance funds valued at $522 million. Individual funds range in size from $300,000 to $140 million with a median fund size of $17.3 million. The Table also includes 7 new funds under development valued at $1.2 billion.
A complete list of NIIPt member fund mandates can be found here. Reports published by the NIIPt in support of the Social Finance Fund include: Leveraging Canada's Social Impact Funds (October 2018) and Eight Tracks: Impact Investing in Canadian Communities (May 2014).
SOURCE New Market Funds
Carla Pellegrini, 778-321-1712, [email protected]
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