A different wave of investment is emerging in London – new ways to inject capital that is paid back to investors intended to help socially minded entrepreneurs and social enterprises to achieve their mission.
VERGE Capital is hosting a special event for social investors and supporters in London. The event is a celebration of London’s efforts to date to create local investment for local impact and an opportunity for the community to share their ideas for the future of social finance.
VERGE is a collective effort by London Community Foundation, Pillar Nonprofit Network, Sisters of St. Joseph and United Way London and Middlesex with support from Libro Credit Union.
A Social Enterprise Loan Fund launched by VERGE provides an entry point for social entrepreneurs looking to start or grow their business. The fund is available to ventures that use business strategies to drive social, environmental and economic change.
With over 100 Social Enterprises in London and surrounding area and over $40 billion of investable assets in the community, imagine the possibilities if even a fraction of this is invested in social enterprises. The fund has already seen traction from social enterprises with expressions of interest and one application currently under review.
Where: Toboggan 585 Richmond Street, London
When: August 18 5:00 p.m. – 7:00 p.m.
For more information contact Michelle Baldwin
mbaldwin@pillarnonprofit.ca
519-433-7876
Quick Facts
- Social enterprises are ventures that use business strategies to drive social, environmental and economic change and can be for profit or nonprofit.
- It is estimated that 68% of social enterprises in Ontario have a poverty reduction focus
- Pillar Nonprofit Network supports nonprofit and for-profit social enterprises in the London community.
- London currently has about 100 Social Enterprises.
- VERGE launched on July, 2015 with partners London Community Foundation, Pillar Nonprofit Network, Sisters of St. Joseph and United Way London and Middlesex.
- Based on an environmental scan in 2013, London has over $40 billion of investable assets.
- Over the next decade, the global social finance market is expected to generate up to $1 trillion in new impact investment capital.
- VERGE website: www.vergecapital.ca
About VERGE
VERGE connects caring local investors with local enterprises that have a social or environmental mission at their core. Through the VERGE Social Enterprise Loan Fund and complementary intermediary services, we will promote the growth of social enterprises and impact investors in our region of London and surrounding counties.
About Pillar
Pillar Nonprofit Network is acting as the backbone organization for VERGE.
Pillar supports more than 340 nonprofit member organizations in fulfilling their missions in our community, while also making connections for community impact. For more information, please visit: www.pillarnonprofit.ca.