The European Investment Bank Group is investing in two equity funds in Spain to support the development of 46 social enterprises in the country. €10 million is invested into Creas Impacto, the first institutional social impact fund in Spain, to support early and late stage social enterprises...
€3 million is invested into Equity4Good, managed by Ship2B, a Spanish foundation accelerating social enterprises with high social or environmental impact. Both deals have benefitted from the Employment and Social Innovation (EaSI) programme and the latter deal is also backed by the European Fund for Strategic Investments (EFSI), the heart of the Juncker Plan. Commissioner for Employment, Social Affairs, Skills and Labour Mobility, Marianne Thyssen said: "These two agreements, one of them supported by the Juncker Plan, will foster the development of social enterprises, which play a crucial role in our economy's future. I strongly believe that support from public and private partners as well as a committed network of investors is key for start-ups to grow successfully, reach their target markets and fully realize their social mission. The Commission has supported the early stages of both these initiatives through grants under the Employment and Social Innovation programme, which helped them reach investment grade in their respective fields. I congratulate both Fundación Ship2B and Creas Impacto." By November 2018, the Investment Plan had already mobilised €360 billion of investment across Europe, including almost €46 billion in Spain, and supported 850,000 small and medium businesses. A press release is available here.
