September 19, 2013
First-of-type online investment platform, MaRS Discovery District’s Social Venture Connection (SVX)1, has launched today and has been spotlighted in an article in the Toronto Star. See below an excerpt of the article.
Billed as the first of its kind in North America, the online “impact investing platform” at SVX.ca, aims to mobilize private capital for the public good, said Adam Spence, associate director of the MaRs Centre for Impact Investing, who heads the initiative.
“It is like e-harmony for impact investing,” he said in an interview. “We connect investors looking for opportunities to generate a positive impact with social entrepreneurs looking for capital investments.”
Accredited Ontario-based investors who register with the site will be able to search for investment opportunities, view entrepreneurs’ YouTube videos, business descriptions and references and put their money on the line knowing the SVX has vetted each venture for social or environmental impact as well as sound financial footing.
The new platform, (MaRS can’t call it an “exchange” for technical reasons) will be open to Ontario-based enterprises with less than $25 million in revenues.
The goal is to raise a modest $2.5 million for at least 10 of the 30 ventures it hopes to list in the first year. Eligible sectors include affordable housing, employment services, food security, renewable energy, sustainable agriculture, education, renewable energy, food security and initiatives for First Nations and new Canadians.
To read the full article, click here.
To read the Ontario Government’s press release about the initiative, click here.
For more about the SVX, read our Corporate and Capital Markets bulletin, “Torys Advises on Canada’s First Online Capital-Raising Platform to Receive Regulatory Approval” by partner Aaron Emes and associate Catherine de Gusti.
1 Torys advises the SVX on all securities regulatory aspects of its operations.