IIN launches to boost Northern Powerhouse impact
The Impact Investment Network (IIN) has officially launched to raise investment and accredit impact businesses in the North.
An impact business is one that positively impacts people, the planet and the economy.
IIN, which is based in Liverpool, will connect and empower these businesses in both public and private sectors to grow in a sustainable and ethical way.
The partnership has evolved from the Social Stock Exchange (SSX), which was backed by David Cameron in 2013 to connect investors with companies making a positive social impact.
IIN chief executive Debbie Ryan said: “The UN Sustainable Development Goals set out a clear framework that businesses and investors should be aiming for. Our vision is to help them on that journey.
“We believe major investment into impact businesses does not only have to happen in London, and our work here in the Northern Powerhouse is showing there are some excellent opportunities for investment, but there is also a need to support the impact sector to become investment ready.”
With 46 members already signed up, from major housing associations, clean tech and waste disposal organisations, IIN will now look to expand the network of members and investors in the North over the next 12 months.
The current membership has a combined revenue value of £2bn with members turnover ranging from £700,000 to £1.5bn
IIN has three aims: To accredit business with the SSX impact standard to assure investors and customers of ethical standing; to support accredited business to raise investment and get impact businesses investment-ready; and provide a network of like-minded businesses that can trade through an internal marketplace, come together through an events programme, and share success through communications channels.
With its corporate finance partner, Amberside, IIN is currently working on capital raises in excess of £200m, including deals to renovate housing stock, to development of technology platforms and energy assets.
Ms Ryan said; “The UK as a whole needs to unlock the potential of impact businesses to ensure the Government’s industrial strategy is sustainable in every sense.
“As our local and combined authorities prepare their plans for their Local Industrial Strategies, we believe impact businesses should have a voice at the table. These are the businesses set up to deliver the inclusive growth we are striving for.”
