Site navigation

Social Impact Fund Launches £3.7M Fundraising Round

Dominique Adams

,

SIS Ventures

SIS Ventures has launched a second round of fundraising to scale up its support for Scotland’s high impact enterprises.

Edinburgh-based profit with purpose investor, SIS Ventures, has launched a second funding round with the goal of raising £3.7 million. Previously, the Impact First Fund raised £1.3 million from 25 UK-based private investors.

More than 100 high-growth early-stage enterprises have applied for funding, with eight having secured or in active discussion about investment.

These include Glasgow-based data-tech firm Talking Medicines, Aberdeen-headquartered life science company EnterBiotix, Napier University spin-out Cyan Forensics, Edinburgh craft beer label Brewgooder, and ethical advertising company Good-Loop.

With the first portfolio almost complete, expecting to comprise eight companies in total, the second round of fundraising will showcase the success of these first investments as proof of the Fund’s purpose-led investment strategy amongst new and existing investors.

The announcement of a second round of fundraising follows the appointment of David Ovens, chief operating officer at Archangels and former vice chair of SIS Ventures, as chair of SIS Ventures to support the next phase of growth.

Alastair Davis, CEO, SIS Ventures, said: “Demand for investment funding from early stage mission-led entrepreneurs has surpassed all of our expectations. Since launching Impact First last year, we have proved without doubt that there is more than sufficient appetite for such a fund among highly ambitious enterprises with aspirations for growth.

Recommended 

“We also know from our ongoing discussions with the investor community that investor interest is strong. However, to date, many have adopted a ‘wait and see’ approach, based on the relative scarcity of evidence to support an impact-first investment approach.

“With our first portfolio of investments almost complete, we are now able to more visibly prove the investment case. We’ve already started our discussions with the investor community, and we’ll be looking to complete the second raise within a few months.”

Dominique Profile Picture

Dominique Adams

Staff Writer, DIGIT

Latest News

%d bloggers like this: