e-Harmony for impact investing…well we do think that SIBs are sexy. Read what Canada’s new platform says:
MaRs Launches Social Venture Connection, SVX
Socially-minded investors in Ontario who want to make a difference while making a profit have a new financial tool at their fingertips.
The MaRs Discovery District’s Social Venture Connection, or SVX, is launching at the Toronto Stock Exchange Thursday.
Billed as the first of its kind in North America, the online “impact investing platform” at SVX.ca, aims to mobilize private capital for the public good, said Adam Spence, associate director of the MaRs Centre for Impact Investing, who heads the initiative.
“It is like e-harmony for impact investing,” he said in an interview. “We connect investors looking for opportunities to generate a positive impact with social entrepreneurs looking for capital investments.”
Accredited Ontario-based investors who register with the site will be able to search for investment opportunities, view entrepreneurs’ YouTube videos, business descriptions and references and put their money on the line knowing the SVX has vetted each venture for social or environmental impact as well as sound financial footing.
The new platform, (MaRs can’t call it an “exchange” for technical reasons) will be open to Ontario-based enterprises with less than $25 million in revenues.
The goal is to raise a modest $2.5 million for at least 10 of the 30 ventures it hopes to list in the first year. Eligible sectors include affordable housing, employment services, food security, renewable energy, sustainable agriculture, education, renewable energy, food security and initiatives for First Nations and new Canadians.