Home > Uncategorized > Triodos Pulls Social Enterprise Fund

Triodos Pulls Social Enterprise Fund

Triodos Bank in the UK is pitched as one of the world’s leading sustainable banks. Their mission is to make money work for positive social, environmental and cultural change. In June 2010 the £3m fund (Social Enterprise Fund) that Triodos had set up to invest equity venture capital in social enterprises closed after two years and only one £320,000 deal.

Triodos has reported that they had not found the appetite for equity that was expected, or enough social enterprises in a strong enough position to take on equity.  Triodos’s lending to social enterprises remains strong with record levels of lending to the charity and social enterprise market. Investment readiness, which is also an issue in the commercial venture funding sector, was cited as a cause.

As the UK has a range of funding mechanisms and organisations from CAF to VentureSome, it perhaps is not surprising that the capital market is overloaded. Ireland on the other hand has the opposite issue at the moment, with credit finance from the banking sector adding to the sectors woes.

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