This investment, in the form of a Covertible Loan Note, is the first Connect Fund investment to test the provision of patient capital to improve the social investment market in England. As a demonstration investment, it could help to unlock additional equity or equity-like finance to support and develop sustainable business models that will fill missing gaps in the market.
Singlify will improve the effectiveness, transparency and efficiency of social investors through the provision of cost-effective, “off the shelf” investment management software, designed to meet the specific needs of social investment intermediaries. The business will fill a key gap in market infrastructure that has been identified by a feasibility study funded by the Connect Fund and carried out by Homeless Link.
This investment provides working capital funds so social business “Singlify” can develop a Salesforce-based software product to allow social investment intermediaries to better manage social investment portfolios. This opportunity was incubated by Homeless Link, and is now incorporated as an independent private limited company.
Great job opportunity in #Birmingham! 👇