Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

VERGE Breakthrough Fund raises $1.7 million for Ontario startups

VERGE Breakthrough Fund has raised $1.7 million for Ontario startups.

The seven-year fund is looking to raise $2 million in total to provide loans to social enterprises and affordable housing initiatives. It aims to achieve a 3% return.

“This is a demonstration fund. It’s meant to see if this concept has legs,” says VERGE founder Lina Bowden. The new fund is a partnership between Toronto-based SVX and VERGE Capital, the social-finance arm of Pillar Nonprofit Network.

The $1.7 million was committed by Libro Credit Union, London Community Foundation and two religious organizations. Ontario’s Ministry for Economic Development and Growth contributed $375,000 as first-loss capital.

You might also like...