Are you interested in social impact investing? Do you want to lift those around you while also getting a financial return?
This may be the ideal fund for you to be a part of.
We’re setting up a new Social Impact Fund and already have a lead investor (a very reputable social impact venture capital firm has committed between $1-$2M) and are now seeking interest from potential limited partners.
The fund is brand new and still in the process of being setup. However, some of the key elements are as follows:
- A new fund will be established to provide investment for those companies that graduate from the accelerator and are interested in securing funding (for context, about 150-180 companies are invited to apply for a cohort, of which only 20 are selected)
- Likely terms will be a SAFE note, depending on the stage of the venture
- Starting fund will be around $3-5M and comprise of accredited entities as well as corporate funds
- Cheque size in companies will be $25K and up
- Companies that either graduate or are progressing well through the accelerator are eligible
- Follow on investment will also be permitted
- Fund will be privately managed and fees of 2% and a carry (20%) will be assessed
- Goal is to have the fund in place by early 2022