Funding

Global Social Impact Investments Funding News – Global Social Impact Investments Raises €22.5 million From EIF

Jul 5, 2024 | By Team SR

The European Investment Fund (EIF) is investing €22.5 million in Global Social Impact Fund II (GSIF Spain), managed by Global Social Impact Investments (GSI). The pledge by the EIF makes it the lead investor in this Spain-focused social impact fund backed by InvestEU programme.

SUMMARY

  • The European Investment Fund (EIF) is investing €22.5 million in Global Social Impact Fund II (GSIF Spain), managed by Global Social Impact Investments (GSI).
  • Global Social Impact Investments SGIIC, SAU (GSI) is a Spanish impact investing fund manager that seeks to deliver attractive returns for its investors

GSFI Spain will invest in growth-stage and small businesses helping to improve the livelihoods of people at risk of economic and social exclusion. It focuses on projects promoting employment for the most socially vulnerable groups by creating high quality jobs and making it easier for disadvantaged people to access goods and services, improving their livelihoods, enhancing their financial and social inclusion and helping to alleviate poverty and inequality in Spain.

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“This new investment reflects our commitment to social impact investing in Spain,” said EIF Chief Executive Marjut Falkstedt . “The agreement with Global Social Impact Investments, backed by the InvestEU program, will expand access to finance for companies fostering social inclusion and access to employment for the most vulnerable groups, thereby contributing to their social and economic inclusion, an objective that is in the DNA of the EIF and the European Union. “

With a European Social Entrepreneurship Fund (EuSEF) structure and under Article 9 of the SFDR regulation, at least a third of GSFI Spain's investment committee members are women, granting it “smart gender” classification. The EIF investment was made possible by backing from the InvestEU programme and in particular its financial instruments aiming to support social impact investment in the European Union.

“We are very pleased to have the help of the EIF and the InvestEU programme to meet the investment targets of our GSIF Spain fund. This investment successfully closes the fund, confirming that economic profitability and social impact can go hand in hand, and there is still room for innovation and the development of new investment models. We are certain that in Spain we lead the social impact investing, and our portfolio and pipeline are full of innovative business projects that, in turn, generate positive direct impact on vulnerable groups,” added Co-founder and President of GSI María Ángeles León.

GSIF Spain’s portfolio currently comprises four Spanish small and medium-sized enterprises (SMEs) tackling economic and social l exclusion via both direct employment and the products and services they provide. These companies have strong business models, high growth potential and consolidated management teams. In addition to the EIF, GSIF Spain is also being supported by other institutional investors such as ICO and private capital firms (mainly family offices).

About Global Social Impact Investments

Global Social Impact Investments SGIIC, SAU (GSI) is a Spanish impact investing fund manager that seeks to deliver attractive returns for its investors through investment in companies with a positive social and environmental impact. Founded in 2020 and registered with the CNMV (Spanish Securities and Exchange Commission), GSI specialises in identifying profitable and sustainable companies contributing to the socioeconomic inclusion of people in vulnerable situations. The firm’s management team has a strong impact investment track record spanning over 20 years, together with expertise in the regions and domains in which it invests.

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