Catalyzing the Social investment Market in Portugal:

sharing a two-year journey

Filipe Santos, President of Portugal Social Innovation

Plenary meeting of the Social Impact Investment Taskforce

London, July 9th 2015

2011- 2013: MIES - Mapping Social Innovation in Portugal

134 social innovation initiatives with high-potential impact

www.mies.pt

Sept 2013: Build-up of the Portuguese social investment ecosystem

entrepreneurial catalyst

Portuguese

Social Investm

ent Taskforc

e

Public Wholesal

er market builder

Pilot projects: first SIB

Where to start? Research Notes (knowledge and awareness)

Documents available atwww.investimentosocial.pt

First SIB in Portugal in Jan15: instrumental in fostering conversation

Social investment build-up needs quick wins for momentum and buy-in from decision-makers.

What next: Pilot projects to show it is real

In the meanwhile - process of stakeholder engagement to define agenda:July 2014 – June 2015: Portuguese Social Investment Taskforce convenes 21 key players (i.e. Bank of Portugal, Financial Services Authority, key banks and foundations).

5 recommendations and actions plans for development of social investment market

Portugal Inovação Social (Portugal Social Innovation)

• Wholesaler fund (FIS) of 95M euros (EU structural funds - 2015-2020)

• Ex-ante evaluation undergoing. Bids for retail funds in 4-6 months

• Co-financing investments in high impact initiatives (diferent instruments)

• Assymetric sharing of risk and return

• Recycling of public funds after 2020 to ensure perpetuity of FIS

FISLoan Retail Fund (Banks)

Impact Investment Funds (Quasi-equity)

High impact

initiatives

Portugal Social innovation: Ecosystem Building Platform

2- Venture Philanthropy co-financing (20M)

1- Capacity-Building for Social Investment (15M)

3- Social Impact Bonds payer (20M)

4- Fund for Social Innovation (95M)

DEMAND BUILDING

CONSOLIDATION OF

INNOVATIONS

Parceiro dedicado à promoção da inovação social

Celebration and momentum building: June 25th-26th 2015

Vision for 2020: The Impact Economy