BonVenture&German KfW Group: first joint project to fund social enterprises
BonVenture project partner Social Publish Verlag 2010 GmbH is Germany’s first social enterprise to profit from a newly launched KfW programme: In March, BonVenture and KfW, acting as co-investors, completed a second round of financing with Social Publish Verlag 2010 GmbH. This is the first time KfW Group has made use of its new instrument to promote social enterprise. As of January 1st, KfW provides venture capital for social enterprises by doubling the financing provided by social investment funds, business angels or foundations.
KfW Group is a promotional bank of the Federal Republic of Germany and the federal states. The Social Publish Verlag 2010 GmbH publishes ‘enorm – Wirtschaft für den Menschen’ (six issues per year). This is Germany’s first print magazine dedicated to independent discourse on social entrepreneurship, corporate social responsibility and ethical business. Based on the long-standing experience of BonVenture, preparatory to the launch of the new KfW programme an intense knowledge exchange had taken place between the two partners.