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Social Finance Fund │ Employment and Social Development Canada

Value

Description

Access up to $682.5 million over 10 fiscal years in conditionally repayable and non-repayable contributions through the Social Finance Fund (SFF).

The SFF aims to address systemic biases and inequities historically present in financial systems and investment decisions. Wholesalers will be required to incorporate a social equity lens to ensure diversity and inclusion considerations are incorporated into decision-making processes, so as to benefit equity-deserving groups that face barriers to economic inclusion and lack access to capital. Equity-deserving groups include, among others:

  • women
  • Indigenous peoples
  • low-income people
  • Black and racialized peoples
  • people with disabilities
  • LGBTQ2+ communities
  • official language minority communities
  • recent immigrants and refugees

As part of its focus on investing in a feminist future, the Government of Canada has committed to allocating a minimum of $100 million of SFF funding to investments in gender equality.

Eligible Applicants

The following entities can apply to be a SFF wholesaler:

  • investment funds/funding vehicles
  • for-profit organizations
  • not-for-profit organizations

Organizations are permitted to apply in consortia arrangements to combine multiple expertise and resources to achieve the objectives of the SFF. Consortia arrangements may include joint ventures, legal partnerships or other formal arrangements.

For applicants proposing a consortium arrangement, all participating organizations/entities must be identified in the EOI. Newly-formed consortia are permitted to apply.

Organizations may only be involved in 1 application, whether as a single applicant or as a member of a consortium. At least 1 partner in any consortium must be legally registered in Canada.

Eligible Expenses

The SFF will make funding available using up-front multi-year contribution agreements. The total funding available under the SFF is $682.5 million over 10 fiscal years (2021 to 2030). Funding may be used to support ongoing investment activity until March 31, 2037, at which time all applicable repayments must be made to the Government of Canada.

Deadline Date

  Expressions of interest (EOI) between August 12, 2021 and September 29, 2021
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