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New investment fund for social enterprises in Central and Eastern Europe

 

April 29, 2015

We will soon see the creation of the first Polish social venture capital fund that invests in enterprises bringing social benefits, and EVPA members are invited to contribute to the fund.

In May last year, Social and Economic Investment Company TISE SA, together with two partners: its French parent bank Crédit Coopératif and Belgian company Impulse Europe, launched the project ‘Strategy for the operations of the Social Entrepreneurship Fund for Central and Eastern Europe’ (EUSEF CEE). The project aim is to create a fund for social economy enterprises in Central and Eastern Europe.

The project is delivered under the European Commission’s programme supporting development of financial instruments for social entrepreneurship. The project put forward by TISE and its partners is going to deliver preparatory work to launch a fund for social economy entities in Central and Eastern Europe. The project aims to attract investors from Poland, Croatia, the Czech Republic, Romania, Slovenia, Slovakia and Hungary. The planned investment contributions will range from 100.000 to 1 million euros.

The project will be completed by May 2015, while the fund’s launch is scheduled for Q4 2015. The capital of VC TISE Fund will reach 15 million euros (7.3 million euros provided by SIA, along with 7.7 million contributed by TISE and investors acquired by TISE). SIA may contribute up to 49.9% of the Fund’s capital. The fund will invest in social companies according to classic VC principles, while it will also invest in foundations and associations (conducting business activity) by granting them subordinated and mezzanine loans. When evaluating an enterprise not economic aspects will be considered, but also the social added value of an enterprise”.

Get in touch with Ewa Konczal from the EVPA team for more information.

 

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