Scottish investors have shown their support for SIS Ventures, a social impact investment firm, by providing £1 million in funding. The investment will be used to support early-stage businesses that are focused on creating positive social and environmental impact.
SIS Ventures is a subsidiary of Social Investment Scotland (SIS), a charity that provides loans and investment to social enterprises and charities. SIS Ventures was launched in 2018 to provide equity investment to early-stage businesses that are focused on creating positive social and environmental impact.
The £1 million investment was led by Scottish Enterprise, the national economic development agency for Scotland. Other investors included the Scottish Investment Bank, the investment arm of Scottish Enterprise, and private investors.
The funding will be used to support SIS Ventures’ portfolio of early-stage businesses, which includes companies focused on renewable energy, sustainable food production, and social care. SIS Ventures will also use the funding to expand its team and increase its capacity to support more businesses.
Alastair Davis, CEO of SIS, said: “This investment is a significant milestone for SIS Ventures and demonstrates the growing appetite for social impact investment in Scotland. We are delighted to have the support of Scottish Enterprise and other investors as we continue to build a portfolio of high-impact businesses that are creating positive change in Scotland and beyond.”
The investment comes at a time when there is increasing interest in social impact investment in Scotland. According to a report by the Scottish Government, the social enterprise sector in Scotland contributes £2.3 billion to the economy and employs over 80,000 people.
Scottish Enterprise CEO, Steve Dunlop, said: “We are delighted to support SIS Ventures in their mission to create positive social and environmental impact through investment. This investment will help to build a stronger, more sustainable economy in Scotland and support the growth of innovative businesses that are making a real difference in their communities.”
The £1 million investment is a significant boost for SIS Ventures and demonstrates the growing interest in social impact investment in Scotland. With the support of Scottish Enterprise and other investors, SIS Ventures is well-positioned to continue its mission of supporting early-stage businesses that are focused on creating positive social and environmental impact.
