We are going to finance businesses which have a positive impact on both people, planet ánd profit and which have been unable to secure regular financing. Within BOF2 the government and the private sector will be taking the next step in terms of smart financing in networks. This means maximising innovation and social impact, while sharing financial risk. In the infographic you can see what the BOF round 2 entails at a glance.
New in BOF2
BOF2 is a continuation of BOF1 based on the lessons learned and experiences gained. In BOF2:
- Our aim is to find the balance between people, planet and profit.
- We will be inviting regular financiers to participate
- We will be adding loans so that we can support growth companies.
- The provincial government will focus on social return: we will become the results payer and co-investor.
- The fund size will be increased, for example through the contribution from Europe.
Source: Telos Duurzaamheidscan
The total budget for BOF2 is intended to be € 20 million. The provincial government has commissioned 'Inclusif' to help develop the impact strategy, set up an innovative fund structure and scale up funding. An important intended co-investor is the European Investment Fund (EIF). BOF2 will therefore be a combination of European, regional, public and private capital. Of the total amount, € 17 million is intended for loans in approximately 15 growth companies and € 3 million as working capital for approximately 5 start-ups. The provincial government is providing a € 1.5 million guarantee for the loans and a € 2.5 million guarantee for the working capital.
During the coming period we are going to hold talks with possible co-financiers. After that we will continue organising BOF round 2. We will communicate on progress via social media and our newsletter. You can register for the newsletter and submit questions via: firstname.lastname@example.org.