Government of Canada Officially Launches the $755M Social Finance Fund

Social purpose organizations, such as social enterprises, non-profits, charities and co‑operatives, are at the forefront of tackling Canada’s persistent social and environmental challenges, and they are key contributors to the Canadian economy. However, social purpose organizations face barriers and systemic biases that exist in the current finance ecosystem.

Today, the Minister of Families, Children and Social Development, Karina Gould, officially launched the $755 million Social Finance Fund, which is a groundbreaking, long-term initiative to advance the growth of the social finance market in Canada. The Social Finance Fund is a foundational element to the Social Innovation and Social Finance Strategy, along with the Investment Readiness Program and the Social Innovation Advisory Council. Social innovation and social finance plays a fundamental role in tackling persistent challenges like access to affordable housing, food insecurity, and poverty.

By increasing access to flexible financing opportunities in the social finance market, the Social Finance Fund will help social purpose organizations grow, innovate, and enhance their social, economic, and environmental impacts. They will also extend the reach of social finance to underserved populations, sectors, and regions in Canada, including rural and remote communities and the North.

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