Catalyzing the Social investment Market
in Portugal: sharing a two-year journey
Filipe Santos, President of Portugal Social Innovation
Plenary meeting of the Social Impact Investment Taskforce
London, July 9th 2015
2011- 2013: MIES - Mapping Social Innovation in Portugal
www.mies.pt
134 social innovation initiatives with high-potential impact
Sept 2013: Build-up of the Portuguese social investment ecosystem
entrepreneurial
catalyst
Public
Wholesaler
market
builder
Portuguese
Social
Investment
Taskforce
Pilot
projects:
first SIB
Where to start? Research Notes
(knowledge and awareness)
Documents available at
www.investimentosocial.pt
What next: Pilot projects
to show it is real
First SIB in Portugal in
Jan15: instrumental in
fostering conversation
Social investment build-up
needs quick wins for
momentum and buy-in
from decision-makers.
In the meanwhile - process of stakeholder engagement to define agenda:
July 2014 – June 2015: Portuguese Social Investment Taskforce convenes 21 key
players (i.e. Bank of Portugal, Financial Services Authority, key banks and foundations).
5 recommendations and actions plans for development of social investment market
Portugal Inovação Social (Portugal Social Innovation)
• Wholesaler fund (FIS) of 95M euros (EU structural funds - 2015-2020)
• Ex-ante evaluation undergoing. Bids for retail funds in 4-6 months
FIS
Loan Retail Fund
(Banks)
Impact Investment
Funds (Quasi-equity)
High
impact
initiatives
• Co-financing investments in high impact initiatives (diferent instruments)
• Assymetric sharing of risk and return
• Recycling of public funds after 2020 to ensure perpetuity of FIS
Portugal Social innovation: Ecosystem Building Platform
4- Fund for Social Innovation (95M)
3- Social Impact Bonds payer (20M)
1- Capacity-Building for Social Investment (15M)
2- Venture Philanthropy co-financing (20M)
DEMAND
BUILDING
CONSOLIDATION
OF INNOVATIONS
Celebration and momentum building: June 25th-26th 2015
Parceiro dedicado à promoção da inovação social
Vision for 2020: The Impact Economy