Resonance SITR Top-Up Facility

Top up facility for place-based social investment tax relief (SITR) funds.

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The challenge

Raising and scaling place-based funds using Social Investment Tax Relief(SITR) can be challenging, with the lack of track record making it difficult to attract investors to this new market.

Our approach

This facility will support the West Midlands fund to scale and help the North West SITR fund to launch and grow. The facility will also support the launch of further SITR funds for other regions.

The fund

Resonance have launched three place-based social investment tax relief (SITR) funds (Bristol, the West Midlands and the North West) and plan to continue to launch funds in new areas of the UK. The funds invest in social enterprises addressing regional poverty and inequality. This facility will help the new regional funds launch and will also top up existing funds, giving confidence to the market and helping the fund reach sustainability.

  • Fund size

    £2.25 million
  • Big Society Capital commitment

    £2.25 million

Key information

  • Geography

    UK wide
  • Investment type

    Enterprise debt
  • Fund manager

    Resonance
  • Investment status

    Current
  • Investment date

    2019
  • Term

    5 years

Sustainable development goals

  • 1: No Poverty End poverty in all its forms everywhere
  • 2: Zero Hunger End hunger, achieve food security and improved nutrition and promote sustainable agriculture
  • 8: Decent Work and Economic Growth Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
  • 10: Reduced Inequality Reduce inequality within and among countries
  • Other investors

    Individual investors