Spanish impact fund Fondo Bolsa Social targets €25m

The vehicle, which was launched at the beginning of 2020, is managed by Analistas Financieros Internacionales (Afi) in partnership with some of Bolsa Social's managers.

In addition to the financing, Fondo Bolsa Social also provides its portfolio companies with know-how and managerial support, with the aim of helping them to further professionalise their management, access new clients and suppliers, find growth opportunities, develop their strategies, and attract talent to their projects.

Fondo Bolsa Social is a separate and independent entity from the crowd-equity platform Bolsa Social. Although the two platforms collaborate frequently and serve the same purpose of supporting the development of impact investing in Spain, they are two autonomous entities with independent teams and strategies.

While Bolsa Social is a financing platform open to retail and professionals investors who want to finance companies with a positive social and environmental impact with investments starting at €1,000, Fundo Bolsa Social is an investment vehicle aimed at investors with a more institutional profile.

The fund is managed by a team led by José Moncada, founder of  Bolsa Social, and investment director María Echávarri, who has eight years of experience in venture capital. They are supported by two analysts from Afi and an investment committee composed of selected professionals from the industry.

Investors
The fund's investor base is mainly composed of financial entities, investment funds, insurance companies, mutual funds, family offices and foundations.

LP tickets in the fund range from €500,000 to €1m, with a minimum ticket of €100,000. 

Investments
Fondo Bolsa Social targets early-stage profitable Spanish companies able to generate a positive and measurable social or environmental impact.

The fund invests between €25,000-300,000 in seed rounds, targeting businesses with a successful management team and a prototype that has been launched on the market. It also provides series-A rounds of up to €1m, backing companies with a proven and successful model that need capital to grow and scale up.

It targets five segments: health and wellbeing; inclusive and quality education; responsible production and consumption; climate action; and social integration and development.

The fund takes into account in its investment strategy the sustainable development goals of the United Nations, in order to favour companies with environmental and social benefits that are offering solutions to the challenges of sustainable development.

Fondo Bolsa Social has already made three investments: virtual caregiver for elderly patients Tucuvi; sustainable fashion brand Sepiaa; and Qida, a platform for home care and health services, with a focus on elderly care and personal assistance to the disabled.

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