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
134 social innovation initiatives with high-potential impact
www.mies.pt
Sept 2013: Build-up of the Portuguese social investment ecosystem
entrepreneurial catalyst
Portuguese
Social Investm
ent Taskforc
e
Public Wholesal
er market builder
Pilot projects: first SIB
Where to start? Research Notes (knowledge and awareness)
Documents available atwww.investimentosocial.pt
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.
What next: Pilot projects to show it is real
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
• 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
FISLoan Retail Fund (Banks)
Impact Investment Funds (Quasi-equity)
High impact
initiatives
Portugal Social innovation: Ecosystem Building Platform
2- Venture Philanthropy co-financing (20M)
1- Capacity-Building for Social Investment (15M)
3- Social Impact Bonds payer (20M)
4- Fund for Social Innovation (95M)
DEMAND BUILDING
CONSOLIDATION OF
INNOVATIONS
Parceiro dedicado à promoção da inovação social
Celebration and momentum building: June 25th-26th 2015