PRIs for Social Businesses
What is a “Social Business”?
Social businesses are businesses that have legally declared a social corporate purpose and require that their directors and officers continuously consider that purpose alongside of pursuing profit for owners. These companies pursue a “double-bottom-line” because they deliberately work to make money and a specific impact at the same time.
PRI Seed Capital
Venn is all about Program-Related Investments (PRIs), which are below-market investments made primarily to advance charitable goals. PRIs can be a great financing option for social businesses, especially in the early phases of the “Valley of Death” when traditional financing is hard to find. Social businesses can leverage their future impact for PRI support from philanthropists before for-profit investors might be ready to join.
Venn Foundation accepts and considers applications from social businesses interested in PRI financing on a rolling basis all year long. There is no deadline.
$1 Million by 2020
Venn is pleased to offer a special PRI funding opportunity for social businesses in Minnesota, North Dakota, South Dakota, or the 23 native nations that share this geography. Such applicants will be considered for a special $15,000 - $50,000 PRI match offer on a 3:1 (updated to 2:1 starting June 10, 2019) basis from the Bush Foundation Venn Account.