Social enterprise fund looks at Scotland

Social enterprise fund looks at Scotland

A fund focusing on social investments in Scotland is set to launch in May, which will attract investors interested in local impact investing.

Key features

Social Investment Scotland Community Capital will support between five and 10 social enterprises.

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The fund aims to raise an initial £500,000 from UK-based investors.

Investors will receive 30 per cent relief from their income tax liability.

Social Investment Scotland, established in 2001, has invested approximately £43m in almost 200 organisations.

In March, the 2015 European Responsible Investing Survey, commissioned by the Association of the Luxembourg Fund Industry, found that assets under management in European responsible investment funds had grown from €238bn (£170bn) in 2012 to €372bn (£266bn) in 2014.

Thomas Gillan, chief financial officer of Social Investment Scotland, has described the fund as a chance to invest in organisations making a difference to Scotland’s communities.

Adviser view

Julian Parrott, partner at Edinburgh-based Ethicalfutures, said: “SIS has a strong pedigree in the funding of social enterprise activity in Scotland and is putting together a diversified portfolio. The fund is something we would look at.”