Groundbreaking social venture capital fund launched
Social finance specialists, Triodos Bank, have announced the launch of the Triodos Opportunities Fund, a ground-breaking venture capital fund for social enterprises. Triodos is now seeking to invest between £200,000 and £750,000 in social enterprises with a proven business model that are looking to grow and scale up their operations.
The Fund is an exciting addition to Triodos’ range of services for the Third Sector, complementing the Bank’s existing lending to and capital raising services for charities and social enterprises. It also builds on Triodos’ 16 year experience of investing venture capital in growing social and environmental businesses. Triodos will work closely with the companies to help build on their success and focus on their long-term development rather than short-term profits. Triodos will provide much more than just money and use its extensive network of social economy partners to open doors, make connections and help investees succeed.
“Like most SMEs, growing social enterprises struggle to attract risk capital. This pioneering new fund will go some way to plug the equity gap that exists for ambitious social enterprises that want to scale up their operations” says Whitni Thomas, Investment Manager at Triodos. “The Triodos Opportunities Fund will show that it is possible to generate a financial return while creating a tangible social impact.”
The Fund has raised almost £3 million in its first fundraising round, which closed on 30 June 2008. Investors include charitable foundations The Waterloo Foundation and The Tudor Trust, as well as private investors who see the Fund as a great example of social investment which promises to deliver both a financial and social return.
A spokesperson for the Waterloo Foundation said, “By investing in the Triodos Opportunities Fund, The Waterloo Foundation can make its endowment work harder to generate financial returns and meet our charitable objectives. It’s a great example of how charities can benefit from connecting their finances to their mission.”
Social enterprises that want to find out more about how the Triodos Opportunities Fund can support their growth should contact Whitni Thomas on 020 7138 3209 or e-mail whitni.thomas@triodos.co.uk. Investors interested in participating in the Fund, should contact Alex Connor on 020 7138 3219 or email alex.connor@triodos.co.uk.
(30 June 2008)
Notes for Editors:
To arrange interviews or source supporting photography, please call Will Ferguson at Triodos Bank on 0117 980 9770 or email william.ferguson@triodos.co.uk.
Triodos Bank only finances enterprises which create social, environmental or cultural added value. Key sectors include organic food and farming, renewable energy, social housing, and fair trade. Transparency is a core value: customers are informed about the bank’s lending and can target their savings to particular areas of investment. A range of personal savings accounts is offered, and full banking services are available for businesses and charities. Triodos Bank is an independent bank founded in the Netherlands in 1980. Its principles and independence are protected through a special shareholding trust. The UK office opened in 1995 and is based in Bristol.
