IT has already backed companies bidding to make a positive impression in spheres including healthcare, climate change and online security, now SIS Ventures is launching a second round of fundraising to attract up to £5 million to scale up its support for high impact potential early-stage businesses in Scotland.
SIS Ventures said its Impact First fund provides the opportunity for investors to make tax-efficient financial returns alongside impact returns by investing equity into Scotland-based businesses whose social and environmental impact is aligned to the United Nations Sustainable Development Goals.
The fund has invested £1.3m into eight high impact and high growth potential businesses and continues to deploy £5m Scottish Government funding into a strong pipeline of impactful businesses.
Each business is led by a specific mission including, for example, Dxcover Limited’s earlier diagnosis provision for life-limiting diseases such as cancer, and Manus Neurodynamica’s for Parkinson’s.
Other examples include Cyan Forensics, which is tackling some of the world’s most serious online harm issues, and Trojan Energy, which is encouraging the switch to electric vehicles through on-street charging points.
SIS said investors can support existing Impact First investees to grow through follow-on funding rounds, and invest in new, early-stage businesses.
The minimum investment sought from investors is £20,000, with each backer invested in at least eight businesses over a period of seven to 10 years.
David Ovens, chair of SIS Ventures, said: “Using the power of business and innovation to help address society’s greatest challenges and needs, a global culture shift is underway to build a more impactful and inclusive economy.
"The societal issues of today require ever more innovative solutions."
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