over the past 5 years
We are always pleased with being able to attract an increasing number of investors, demonstrating how more people are finding a way to put their money where their values are. But we have over the years built a growing pool of returning investors that now feel part of the wider Resonance family. It is evidence of the values alignment we are creating as much as it is a reflection of the commercial and impact performance being achieved. This year, our family of investors that have invested twice or more with us, has almost reached 200. Together we’re enabling the scaling of solutions to some intractable problems.
As the economy continues to splutter back into life post pandemic, our four new funds launched in 2020/21
have now started to pick up pace in deployment. We’ve got some way to go and now we are working with over twenty housing partners we have the foundations for investing at scale and pace. We broke the £300m Funds under Management barrier and have a clear plan to get from here to the £1bn mark. We don’t chase scale for its own sake, we’re driven by the 100,000 people stuck tonight in temporary accommodation – that’s a £20bn capital problem!
Whilst critical, investment is rarely enough on its own. Almost all social enterprises need strengthening in
other ways as well. This can be an intense short-term piece of work before or after a transaction, or a longer light touch relationship. In some cases, we are able to support organisations on their journey to scale their social impact without the need for investment at all. For the second year running much of our enterprise support work focused on distributing grants through the Social Enterprise Support Fund from the National Lottery Community Fund, to social enterprises across the UK as part of a consortium. Through all this time of economic rebooting, we have kept mobilising useful capital into a growing number of social enterprises.
We buy homes for people facing crisis whether that is exiting temporary accommodation or fleeing domestic violence. Each home houses on average a little more than two people and then with some natural churn (about 10% pa once the portfolio has settled), the property is available again for a new family. The 900 homes we have purchased in total to date, has over the period we have owned them created a safe, affordable, healthy space for nearly 3,000 very important people!
Sign up today and keep up to date with all our latest social impact news, innovations and insights so you never miss a thing.