Social enterprises are usually more inclined to innovate and experiment than conventional business models because they are typically designed to fill a gap in existing services not likely to be addressed by private sector companies. A key challenge for early-stage social ventures is how to find relevant investors quickly and cost-effectively.
This is where an organization such as Enable Impact is making a difference. Enable Impact empowers social entrepreneurs to find sustainable solutions to the social, humanitarian, environmental and inequity issues impacting the world. The organization also provides a global searchable database of social ventures and impact investors.
Enable Impact has already helped two social ventures get funded and close their rounds. NurturMe, a company specializing in responsibly-sourced, organic baby foods was looking to close a $1.7 million round. It was introduced by Enable Impact to Investors’ Circle, leading to $250,000 in equity investments to close the round.
With Enable Impact’s robust search and filtering capability, Caroline Freedman, the founder of NurturMe, was able to assemble a shortlist of relevant impact investors to reach out to and vet with help from EcoEnteprises Fund. Enable Impact’s timely alert helped Caroline connect with Investors’ Circle, ultimately leading to $250,000 in equity investments, and inturn, the completion of the $1.7 million round.
Agora for Good, a platform helping people with their charitable giving also raised $250,000. Using Enable Impact’s impact investor database and search tools, Angela Campbell, founder of Agora for Good, was able to search among hundreds of potential investors, match with a few relevant ones, and connect with Investors’ Circle.
Angela said that Enable Impact’s easy-to-use tools and excellent investor network helped Agora for Good quickly find and connect with Investors’ Circle, ultimately leading to a successful funding round. Andrew Cousins at Investor Network said that the network looks forward to connecting with more entrepreneurs through Enable Impact’s online portal to engage them at in-person pitch events.
Source: Enable Impact
Image Credit: Flickr via basykes