SI2 Fund

Social Finance

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In the first four years of the fund:

• £24.4 million was invested directly in the 14:19 Fund portfolio of ventures
• 14:19 Fund ventures successfully leveraged a further £20.6 million in matched funding
• 19,043 young people were supported by 14:19 Fund ventures 22,906 progression milestones were achieved by young people
• 8,925 young people were supported into positive destinations of employment, education or training.

Commenting on the success of the fund, Inspiring Scotland Chairman, Professor Niall Lothian OBE said:

“Inspiring Scotland’s 14:19 Fund delivered yet another strong performance in 2012.  It has achieved greater social impact year on year since its launch in 2009.  We embark on the fifth year of the 14:19 Fund, confident we shall continue to build the capacity of the charities in the 14:19 Fund and transform the lives of disadvantaged young people across Scotland.”

According to Sandy Mohamet, Project Manager of 14:19 Fund venture, Recyke-a bike:

“14:19 Fund investment has been unlike funding from any other funder.  The investment goes where the project needs it most and where it will make the most impact.  Inspiring Scotland doesn’t leave us on our own to get on with it, but provides support along the way.

“We’re really focused on what’s next.  Inspiring Scotland Performance Advisors and pro bono supporters are providing a whole range of support to help us achieve these ambitions.”

Significant development support is provided by Performance Advisors and with support from the private sector.  More than 150 businessmen and women across Scotland provide their support to the charities on a pro bono or restricted fee basis.

One of  Inspiring Scotland’s pro bono supporters, Simon Montador, reflects on why he got involved with Inspiring Scotland

“When I first heard about Inspiring Scotland, I instinctively liked the model; a commercial and outcome based approach which is tackling some really tough and important issues. I wanted to utilise my experience and skills gained from the private sector in a way that could make a real difference. However, until I heard about Inspiring Scotland, I had been unsure how to do this in the most effective way.”

Download the 14:19 Fund Report 2012

Invitation to webinar on Monday 6th May

EVPA invites all interested parties to a webinar on Monday 6th May, 3pm-4pm (CEST) where you will have the opportunity to gain a deeper understanding of the process of impact measurement and management as set out in the Practical Guide.
During the webinar Lisa Hehenberger, EVPA Research Director and Anna-Marie Harling, EVPA Senior Research Associate, will go through the different steps to measure, monitor and report impact, and also focus on how to integrate impact into each important decision along the investment process from deal selection to exit.

EVPA considers sharing best practice an essential part of our work and we will be delighted to hear from you on this subject during the webinar.

Further details on the webinar are as follows:
Date: Monday 6th May 2013
Time: 3pm – 4pm CEST

The webinar is free of charge but you are required to register before May 2nd at: https://www4.gotomeeting.com/register/133121135

If you have any further questions, please do not hesitate to get in touch with us at info@evpa.eu.com or by calling +32 (0) 2.513.21.31

SI² Fund, based in Belgium, is an impact investment fund with the mission to generate high social impact and a fair financial return through sustainable investments in social enterprises.

“Responsible Leadership: Inspire and Act!”

Hear inspiring leaders, meet peers and discuss the latest trends in venture philanthropy and social investment.

We are grateful for the support of WISE – philanthropy advisors and Swiss Philanthropy Foundation.

Don’t miss this unique event.

VP/SI is clearly filling a market gap by focusing on early-stage social enterprises and non-governmental organisations with financing tailored to their needs, rather than aiming to achieve market rate returns. In this sense it is complementary to the impact investing space surveyed by J.P.Morgan/GIIN. Although resources in the VP/SI sector have increased, more funding is needed for VPOs to create an even greater societal impact. EVPA is pleased to see an increased sophistication in the use of the entire range of VP/SI tools, but we have also identified some areas where more work is needed to develop best practice. EVPA is committed to continuing the research and promotion of best practice in the key components of the VP/SI model and reiterates the importance of a collaborative approach to develop and attract further resources to the sector.

The survey collected data from 61 VPOs from July to September 2012. Many questions on general practice and strategy referred to the current status in 2012 whereas the key financial data provided was for the fiscal year ending 31 December 2011. The report is available to download free on the Knowledge Centre publications website. A printed copy can be ordered by contacting info@evpa.eu.com. European Venture Philanthropy and Social Investment 2011/2012: The EVPA Survey is available at a price of €25.

What was the rationale behind the merger?
There are 13 million people trapped in poverty in the UK – and 1.6 million children don’t have three meals a day. This is exactly why in the past year Impetus has been talking about the need to seek out partnerships to help scale our operations and have a greater impact on this problem. Similarly, our colleagues at Private Equity Foundation were having the very same discussions and coming to the same conclusion. Both organisations understood that if we were serious about making a much greater difference to a greater number of children and young people in a greater number of ways, we could not do it alone – and together we would be able to achieve far more. We are both coming off the back of our most successful years and by coming together as one powerhouse called Impetus – The Private Equity Foundation, we will have greater scale and more resources to back more ambitious charities with innovative programmes.

What does the merger mean for the venture philanthropy sector?
I believe this new organisation will show how the venture philanthropy model is scalable and can achieve massive impact. Reaching the point where we could one day be five or 10 times larger could be a goal. But instead what is more interesting and meaningful to me is making sure we are putting the money we get to work as efficiently and effectively as possible. The message we want to send to donors and all our supporters is that we will be putting more of your money to work and getting a bigger bang for your buck. I think this is a positive message for venture philanthropy as a whole, where we want to be advocates of effective and engaged giving in the philanthropic world.

Do you see a trend towards more mergers?
I cannot say whether there will be more mergers, but I think there is already a greater emphasis on working together to achieve greater impact. Organisations from across sectors – public, private and voluntary – are combining their efforts and contributing in different ways to produce bigger and better results. We see this in payment-by-results contracts and Social Impact Bonds, where there is a need to deliver services at scale, often requiring many nimble and innovative organisations to come together. This is the reason behind our most recent piece of research that identified the key success factors of a collaboration. Ultimately, we found that the decision to focus on your mission and the ambition to expand your reach or the depth of your engagement should be the key drivers for collaborating. In our case, we understood that to make the change we wanted in the world, we were better off pursuing that together in the form of a merged organisation.

You are likely to have a long to-do list right now. What is at the top of the list?
The success of this merger depends on the efficient and effective integration of two pioneering venture philanthropy organisations with rich histories and successful track records. Right now I am focusing on how the two teams come together and form a working culture that is a source of pride for each member of the team. The enthusiasm and ambition the new team has expressed in the new endeavour really motivates me. Explaining the new organisation to audiences new and old will certainly be an important job, but I also recognise the most important audience is the one under my roof. The conversations I have with my team are the most important ones I have each day.

Read the statement of Commissioner Michel Barnier here.

You can find more information about the Social Entrepreneurship Funds here.