Social Finance Fund – Timeline
Social Innovation and Social Finance Strategy Co-Creation Steering Group Report recommends the creation of a social finance fund to accelerate the development of social finance ecosystems across Canada, alongside eleven other recommendations.
Employment and Social Development Canada establishes the Technical Assessment Group and retains Deloitte Canada as fund formation and financial modelling experts to inform the Social Finance Fund’s design and fund manager selection process.
|August 2021||Stage one of the fund manager selection process for the Social Finance Fund launches through an open and competitive call for expressions of interest, seeking one or more social finance fund manager to deploy the funding across the country.|
Rigorous and competitive process occurs, including interviews with shortlisted fund managers. The Minister of Families, Children and Social Development invites three fund managers to begin stage two of the selection process.
Stage two of the fund manager selection process for the Social Finance Fund launches with due diligence and negotiations:
|March 2023||Contribution agreements are signed with three fund managers for the Social Finance Fund: Boann Social Impact L.P., Fonds de finance social – CAP Finance, and Realize Capital Partners Inc.|
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