Leading impact investors, Better Society Capital, Esmée Fairbairn Foundation and Access – The Foundation for Social Investment have collectively backed market pioneer Resonance in its ambitions to mobilise over £1bn for UK social enterprises by 2030.

The £1.2mn of equity investment into Resonance will strengthen an already robust organisation as it springs forward to go further and faster.

As a specialist impact investment fund manager, Resonance, founded in 2002 and headquartered in Cornwall, now operates across the UK with over £300mn of assets under management.  The investor capital it looks after is 100% channelled into homes and solutions for people facing crisis, at the heart of communities. It is itself a social enterprise and an award-winning B-Corps.

Daniel Brewer, CEO, Resonance, said,“We’re very proud of our growth as a fund manager to date, but it has become clear over recent years that we are not keeping up with the level of need. With over 117,000 families stuck in temporary accommodation there is a market need for over £20bn of capital.  Our homelessness property funds are just 1% of this. We’re incredibly proud of the partnerships that have helped shape a model suitable for institutional capital, but now is the time for us to pick up the pace.”

Stephen Muers, CEO, Better Society Capital, said, “Resonance is one of the best performing social impact fund managers, and BSC have backed them as an investor in their funds to date with over £70mn. This is the first time we’ve had a chance to back Resonance as a manager itself. It marks a stage of maturity as we see Resonance unlocking institutional capital from pension funds providing valuable diversification strategies without any compromise on social impact.”

Caroline Mason, CEO, Esmée Fairbairn Foundation, said, “As one of the largest foundations in the UK, we have worked with Resonance for many years. Esmée Fairbairn Foundation was in fact the anchor investor in Resonance’s first ever fund but we’ve gone on to make multiple follow on investments and co-investments and we’ve even partnered to deliver support for some of our grantees on a programme to build resilience and strengthen impact. We’re delighted to join the shareholders of Resonance and are really excited about this next stage.”

Seb Elsworth, CEO, Access, said, “Resonance has been a longstanding partner of Access, backing social enterprises using innovative, flexible tools such as their launch pad loans and permanent capital loans and their models backing community equity. We are delighted to continue to support them to reach more social enterprises, particularly those working in underserved places and communities, and help build their resilience and impact.”