Successful SEDIF Fund Managers Announced (Australia)

Social Enterprise Fund Announcement

On August 9 the Hon. Kate Ellis MP, Australian Minister for Employment Participation and Child Care, announced the successful SEDIF fund managers: Foresters Community Finance and Social Enterprise Finance Australia (SEFA).

The Australian Government established SEDIF (the Social Enterprise Development and Investment Fund) to improve access to finance and support for Australia’s social enterprises to help them grow their businesses, and by doing so, increase the impact of their work in their communities.  By establishing SEDIF, the Australian Government is also seeking to catalyse the development of the broader social impact investment market in Australia.

Foresters Community has been awarded $6 million in seed funding to establish two funds to support social enterprises. The Government’s funding has been fully matched by Foresters’ investment partner Christian Super Fund taking the total fund value to $12 million.

Social Enterprise Finance Australia (SEFA) has been awarded $10 million in seed funding with a further $10 million being invested by a range of corporate and individual investors, to seed the $20 million SEFA Loan Fund.

Click here for more detailed information on the SEDIF program and each of the fund managers.