SIS Ventures has launched a second fundraising round to raise up to £5m to support Scotland’s high-impact, early-stage businesses.
SIS Ventures’ Impact First fund gives investors the opportunity to invest in Scottish businesses whose social and environmental impact is aligned to the United Nations Sustainable Development Goals (UN SDGs).
The Scottish impact investor provides investment in exchange for a binding guarantee that the company does not change its social and environmental mission.
The fund has already invested £1.3m into eight high-impact and high-growth potential businesses.
Among them are Dxcover Limited, which provides early diagnosis for diseases such as cancer; Trojan Energy, which provides electric vehicle charging points; and Cyan Forensics, which provides tools to combat online harm.
SIS Ventures is currently deploying £5m Scottish Government funding into follow-on rounds of existing portfolio investee businesses, as well as into new impactful business opportunities.
The minimum investment sought through the Enterprise Investment Scheme (EIS) is £20,000, with each investor committed to at least six businesses over seven to ten years.
“Using the power of business and innovation to help address society’s greatest challenges and needs, a global culture shift is underway to build a more impactful and inclusive economy,” said David Ovens, chair of SIS Ventures. “The societal issues of today require ever more innovative solutions. At SIS Ventures we believe that impactful businesses, those that combine profit with purpose, are the future and should be supported with the full power of the investor community.”
The launch of SIS Ventures’ fund follows a bumper year for UK impact investment. According to figures published by Dealroom for the UK’s Digital Economy Council, UK impact investment startups raised a combined £2bn in 2021.
Currently, the UK has 12 impact unicorns, impact tech companies with a valuation of $1bn or more. Of these, six of them are based outside of London.