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Investment Readiness Program

In 2019, Community Foundations of Canada, alongside the Government of Canada and several partner organizations, announced the Investment Readiness Program (IRP), a program that helps social purpose organizations scale up their social enterprises to prepare to accept investments. The goal of the IRP is to support these organizations in the social finance market, generating a return for investors while having a positive impact on their communities. CFC launched its second round of funding through the IRP in September of 2020, the results of which are now publicly available.

Across Canada, 270 organizations have received IRP funding in CFC’s second round of applications. LCF has awarded a total of $399,487 in funding to 10 organizations, $182,950 in round one and $216,537 in round two, to organizations in London and Middlesex County.

Visit IRP-PPI.ca for more details about CFC’s funded projects, as well as projects funded through the various partner organizations.

 
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What is social finance?

Social finance is an investment that has a positive social, cultural, environmental impact that also generates some returns for investors.

Social finance can take the form of loans, where the investor gets their money back plus interest, or equity investments, where the investor owns a part of the organization. Other forms of social finance include community bonds, where many people loan small amounts to one project, and social impact bonds where the investor is paid back by the government or another outcomes purchaser, if the program’s outcomes reduce government costs.

IRP and the Social Finance Fund

The Government of Canada has announced a $755 million Social Finance Fund to support innovative solutions to social challenges. Community Foundations of Canada (CFC) is a partner on the Investment Readiness Program which helps allocate funds from the government of Canada to provide social enterprises leading edge preparedness for the Social Finance Fund. Community foundations in Hamilton, London and Niagara are partnering as the conduit for the funding allocated in this geographic area.

Applications to the Investment Readiness Program are now CLOSED.

 
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The Investment Readiness Program is funded by the Government of Canada’s Social Innovation/Social Finance Strategy.