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Social Enterprise Development and Investment Funds (SEDIF) -- December 2012 - YouTube
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♪ Opening Music ♪
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The Social Enterprise Development and
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Investment Funds is an Australian Government
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initiative aimed at improving access to finance
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for social enterprises, which will help them grow
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their businesses and then improve the impact of,
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their services in communities in which they operate.
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The Australian Government invested $20 million
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in the SEDIF, which was more than matched by
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private investment to create a total investment
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pool of $40 million which is available to social enterprises.
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The SEDIF is the first socially investment fund of its
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kind in Australia. It represents a unique partnership between
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government, the private sector and community sectors,
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to pool both financial and non-financial resources,
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to increase positive social impact in our communities.
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The fund managers are Foresters Community Finance, Social
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Enterprise Finance Australia, and Social Ventures Australia.
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They've attracted a range of investors that see real
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potential in the social investment market in Australia.
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In particular, they see the opportunity
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to see - to realise, both a financial and social
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return from their investment. These investors are -
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include, a superannuation fund, a social bank,
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high net worth individuals, and other organisations
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who see the opportunity for social investment
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in meeting good social outcomes in Australia.
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We were attracted to SEDIF because
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it provided us with an opportunity to start to
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scale our work in the social enterprise space.
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Over many years we've been building up our
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knowledge of social enterprises, their need for finance,
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what that finance could do for them, in terms
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of extending their social purpose, and SEDIF provided
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us an opportunity to build some scale around that goal.
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Christian Super being invested in Foresters
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Community Finance Fund, really resonates with our members.
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Our members want us to make a good return for them,
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but also make a difference, and being invested in Foresters
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provides those core characteristics for -
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for both of us. We've seen in the wake of the GFC that many
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investments are subject to the gyrations of the
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financial markets. By being able to offer a return, such as we've
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got through Foresters, we're able to actually,
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diversify the portfolio, a little bit better than
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we would have through traditional investments.
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We were attracted to the SEDIF program because
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it gave a great opportunity to put into place what
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we'd been looking to do in funding social
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enterprise in Australia. It provided a very
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worthwhile guarantee to marshal more private resources,
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to effectively leverage monies and funds
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for the social enterprises in Australia.
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Triodos Bank is a bank, as the name is
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indicating is a social bank. It was founded in 1980,
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32 years ago in the Netherlands, and now in
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quite a few European countries present, financing
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exclusively cultural and social and environmental
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projects and were very impressed by the fact that
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the government was willing to put up 10 million
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Australian dollars to make it work, and we could also
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invest a small amount in the operation to show
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that we are interested in it and became a minority shareholder.
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The SEDIF program gave SVA an opportunity to
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work with the government, collaboratively, to form
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effectively a new model of funding social enterprises.
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SVA was able to leverage off the government funding and access
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our own pool of investors, and together, put together a pool
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of capital which can be landed and invested in social
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enterprises around Australia, for positive social change.
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I was attracted
to investing in the SVA Social
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Impact Fund, because it was another way that I
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could create some value in, broadly the - the
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society that I live in, and the community I live in.
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When you lend money, which is what you're
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effectively doing in this fund, it allows you to
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establish a - a base of capital which is beyond
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just the - the general granting of a donation
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which is the traditional way people think about
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giving to charity - charitable enterprises. It's a
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very new field in Australia, but it - it makes -
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makes sense to me, the combination of
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commercial and social return. It's just a
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different way of looking at investing your money.
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