Social impact investment company Resonance has launched its latest ground breaking Fund – The Resonance West Midlands Social Investment Tax Relief (SITR) Fund.
The Resonance West Midlands SITR Fund is dedicated to tackling poverty and disadvantage across the West Midlands, through investment in successful, high impact social enterprises. The Fund gives investors the opportunity to generate a financial return and tax relief benefits, whilst investing in a diversified portfolio of businesses that are committed to bringing about positive social change for some of the most deprived communities in the region.
The Fund has already secured approximately £1m of commitments in principle from a number of investors. Resonance has also identified an initial £2m of investment need from a wide range of social enterprises in diverse sectors, and is looking forward to hearing from other social enterprises from across the region that are looking for investment to grow their business and social impact.
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