A new coalition launched this week with a goal to develop a support network for community finance organizations — also known as place-based or local impact investing organizations — starting in Ontario.
The project is called Catalyst: Community Finance Initiative, and is the effort of 13 major social impact organizations and networks: Pillar Nonprofit Network, SVX, Upper Canada Equity Fund, DUCA Impact Lab, United Church of Canada, Vancity Community Investment Bank (VCIB), SETSI, CapitalW, 10C, the Centre for Social Innovation (CSI), Community Foundations of Canada (CFC), and SI Canada.
Community finance “refers to the local deployment of impact capital, meaning that investments are made with the intention of generating both financial returns and community benefit to address the needs of particular communities, regions, or ecosystems,” according to an S
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