Resonance Annual Report 2017-2018
£50m into 20 Social Enterprises, from 44 investors
These amazing figures make up our best ever year for mobilising capital into the hands of social enterprises, an achievement which is brought to life in the latest edition of our Annual Report. But they really only tell half the story – the real stories are those of the social enterprises that we have supported, which are on the frontline making a positive difference to real issues in society, such as tackling homelessness, dismantling poverty or helping individuals with dementia. These are just a few of the many challenges facing individuals who our social enterprises support across the UK. The social enterprises are the real heroes, we just support them to get the right capital to meet their ambitions. Some of their fantastic stories can be read in the report.
None of this would be possible without investors trusting us with their investments, and in addition to individual investors who back our community share offers we are honoured to have a faithful following of foundations, local authorities and angel investors that continue to entrust us to look after their capital.
2017/18 was a busy year. We launched our latest regional SITR Fund in the West Midlands, and created and launched the first Yield Sharing Finance in the UK, which is suitable for organisations seeking to be sharia compliant. Launchpad Loans are yet another innovation that we kicked-off during the year, enabling social enterprises in the South West to have a small boost of capital from our Health & Wellbeing Challenge Fund, to pilot their emerging ideas.
Our homelessness property funds, in partnership with St.Mungo’s, have gone from strength to strength, standing at over £155m funds under management, and housing nearly 1,300 individuals on the journey out of homelessness.
Of course, there is no danger of us standing still. We are already working on our next fund launches, including a North West SITR Fund, a new Community Asset Development Fund and potentially a Learning Difficulties Property Fund.
In addition to our new and existing funds we are gearing up to do even more direct deals – with our Ventures team focusing on helping to raise finance for individual social enterprises as well as providing much needed support to help develop impact models for social entrepreneurs.
We would like to thank all those that have supported us during the year, and would encourage you to enjoy the report, which you can download here.