Social Impact Investment
VFFF aims to identify opportunities to make impact investments that achieve commercial returns and further social outcomes for our beneficiaries. Working with our investment manager Cambooya, VFFF seeks to have 5% of the corpus invested on an impact first basis by 30 June 2017.
In November of last year, VFFF approved its first impact investment, a property in Armidale for $570,000 plus on-costs to establish BackTrack‘s residential program, helping youth at risk.
In March 2016, VFFF provided a loan of $2 million to Moore Theological College to assist in the redevelopment of the Newtown campus.
VFFF is currently finalising arrangements for its third impact investment. In 2017, $750,000 of VFFF Corpus will be invested for equity in YUME Pty Ltd, an organisation that seeks to assist primary producers to achieve a return on produce that for a variety of reasons becomes surplus to needs.
Acknowledging the need to build the pipeline of investment ready ‘impact first’ opportunities, VFFF has approved two grants to help grow the pool of investments.
- Partnering for Scale and Impact program supporting social enterprises to help them become investment ready.
- Expansion of the Social Traders Crunch program to NSW, helping start-up and growth social enterprises develop and test their models.
Assisting social enterprises
VFFF also provides support to budding social enterprises through its grant making.
Working with social lender Social Enterprise Finance Australia (SEFA), VFFF supplemented SEFA’s loan facility by approving a grant of $285,000 to provide seed funding for Tender Funerals, a not-for-profit funeral service empowering people in the death and dying process.
VFFF has supported The Social Outfit, an ethical fashion label providing employment and training to people from refugee and new migrant communities, since its establishment in 2012.
VFFF also provides core operating funding to support the establishment of the Parents’ Cafe Fairfield, an initiative originally borne out of Fairfield High School to support parents of newly arrived refugee students and that has evolved into a social enterprise catering business, generating income and employment.