Social Finance Fund - (Wholesaler Call)

The Government of Canada is seeking 1 or more social finance wholesalers to implement the Social Finance Fund (SFF). Through the SFF, social finance wholesalers will have access to up to $682.5 million over 10 fiscal years (2021 to 2030) in conditionally repayable and non-repayable contributions. Wholesalers will use the funding to accelerate the growth of Canada’s social finance market over 16 fiscal years (2021 to 2036). The SFF is a foundational element of Canada’s Social Innovation and Social Finance Strategy, which also includes the Investment Readiness Program. The SFF has been designed with a social equity lens to ensure diversity and inclusion considerations are central to the fund’s management, investments, and impacts.

Social finance wholesalers are investment managers that invest in social finance intermediaries that, in turn, reinvest into social purpose organizations. Wholesalers will increase the availability of flexible, affordable, and patient capital for social purpose organizations (including charities, non-profit organizations, and for-profit organizations). Social purpose organizations play a critical role in tackling the socio-economic and environmental problems facing communities, and are essential partners in helping Canada work towards achievement of the United Nations Sustainable Development Goals.

Description of the funding

The SFF will make funding available using up-front multi-year contribution agreements. The total funding available under the SFF is $682.5 million over 10 fiscal years (2021 to 2030). Funding may be used to support ongoing investment activity until March 31, 2037, at which time all applicable repayments must be made to the Government of Canada.

Note: Employment and Social Development Canada (ESDC) will select 1 or more wholesaler(s). Successful applicants may be allocated less than the full amount of funding requested in their proposal.

The objectives of the SFF are to:

• support the development of existing and emerging social finance intermediaries
• extend the reach of social finance to underserved Canadian populations, sectors and regions, including rural communities and the North
• enable the sustainable growth of diverse social purpose organizations
• advance Canada’s progress towards the United Nations Sustainable Development Goals

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