SVX Year in Review 2023–24
As our team gears up for another active season, we take a moment to look back on the last year.
It is summer already — time flies! It has been transformative for SVX and our partners as we continue to drive meaningful change through innovative financial strategies, impactful collaborations, and community-focused initiatives.
In this blog post, we’ll take you through the key moments from April 2023 — March 2024, from the return of the Social Finance Forum to the launch of groundbreaking funds and initiatives. We’ll also spotlight the inspiring stories of our clients and partners who are making a real difference in their communities. The blog below is just a small sample of our impact stories in the last year. You can find the full version of our 2023–24 Impact Report here, where you can read more about our impact journey.
By the Numbers
- 620 enterprises supported through our programs and funds
- $55.4 million in impact capital mobilized
- 728 investors educated and engaged
- 21 portfolio investees through our impact funds
- 27 funds supported through our programs and advisory services
- 29 clients served
- 32 grantees
Project Highlights
Social Finance Forum 2023 Returns
In June 2023, SVX co-produced the Social Finance Forum with Future of Good, drawing over 700 attendees and 80 speakers across Toronto and Vancouver. The forum explored access to capital, corporate social strategies, gender-lens investing, and Indigenous-led enterprises.
Women and Non-Binary Impact Network for Venture Capital (WIN-VC) Officially Launches
September marked the official launch of WIN-VC Canada (Women and Non-Binary Impact Network for Venture Capital). Alongside SVX and regional partners, the network unveiled its upcoming initiatives to promote gender lens investing and investment readiness in women and non-binary entrepreneurs.
First Close of VERGE Breakthrough Fund 2
The VERGE Breakthrough Fund 2, a $2.26M initiative, had its first close in September 2023 with $1.75M invested. The fund supports enterprises in Southwestern Ontario and aims to reach $10M by 2024.
Taking Steps Report Launch
In October 2023, Impact United launched “Taking Steps — Addressing Capital Needs for Indigenous-Led Enterprises” at TSX’s Indigenous Investor Day. The report outlines strategies to overcome capital-raising challenges for Indigenous-led businesses in Canada.
Portfolio Highlights
EntrepreNorth Secures Five-Year Agreement with Mastercard Foundation
In September 2023, past client EntrepreNorth secured a new five-year funding agreement with Mastercard Foundation. SVX contributed to the initial research and design for EntrepreNorth Fund, including market testing, financial modelling, and stakeholder workshops.
National Advisory Board for Impact Investing Launches in Peru
October 2023 saw the official launch of Peru’s National Advisory Board on Impact Investing. SVX, alongside SVX Mexico, Deetken Impact, and Impacto, collaborated on an ecosystem development project in Peru, securing seed funding to start the NAB. The board aims to scale impact investing in Peru by facilitating access to capital, knowledge, and networks for high-impact ventures.
10C Celebrates 15 Years in Operation
VERGE investee and SVX partner 10C celebrated 15 years in operation in October 2023, growing from 3,500 to 40,000 square feet of social purpose real estate and continuing to innovate community spaces in Guelph.
Vision Soho Comes to Life
In December 2023, VERGE investee Vision SoHo Alliance began revitalizing the former War Memorial Children’s Hospital. The project will develop 690 housing units, with 55% designated as affordable housing.
Windmill Microlending Approves Over $100 Million in Loans
In March 2024, VERGE investee and past client Windmill Microlending surpassed $100 million in loan disbursements. SVX supported the scale-up of Windmill’s micro-loan fund through bond design, advisory services, and engaging over 40 institutional impact investors.
Our Team
Alongside great partners, the work of SVX is made possible by a team of great people.
We welcomed new team members over the past year including:
- Jasmine Pabla, Operations Associate, Technology. Jasmine is an Information Technology graduate with experience in creating and supporting platforms servicing different business streams. At SVX, Jasmine supports SVX’s internal and external-facing digital platforms and technology systems. Ask her about technical admin, robotic process automation or cooking.
- Molade (Lade) Balogun, Impact Investing Manager. Molade, who holds CPA and CGA, brings over a decade of global experience in capital advisory, infrastructure, and impact finance sectors. Before her current role at SVX, she contributed her expertise to a multilateral development finance organization, where her efforts were pivotal in advancing economic growth and social advancement across multiple nations. She was instrumental in financing infrastructure initiatives aimed at achieving sustainable development objectives. Feel free to inquire about her insights into sustainable finance, her adventures across the globe, and her enthusiasm for discovering new recipes.
What’s Next
Alongside continuing work on a number of the projects above, there are a number of exciting initiatives on the horizon for 2024, including:
- SVX Impact Index: You may have already read about the SVX Impact Index launch here. The SVX Impact Index will provide a comprehensive source for all private impact investment products in Canada. We’ll also explore other market segments and expand public access to investment opportunities.
- Impact United: Establishing Impact United as a charitable organization with the Impact United Academy serving as a central resource, education, and collaboration hub for individual and institutional investors.
- Capital Raise and Deployment: Completing the capital raise and deploying funds for VERGE Breakthrough Fund II and Bloom Local Food Funds.
- Scaling High Impact Programs: Supporting and scaling programs across Canada, the US, and Latin America, from a Halal financing fund for affordable housing to helping corporate leaders integrate impact into their strategies.
