PRIs for Social Enterprises
What is a “Social Enterprise”?
A “Social Enterprise” is any organization that sells products or services to achieve its social or environmental purpose. Nonprofit public charities with earned revenue models qualify, as do social businesses, which are businesses that have officially declared a corporate purpose that goes beyond maximizing profit for shareholders. Read more at Social Enterprise - MSP.
Social Enterprise Models
Every social enterprise is unique, but generally organizations primarily use one of three social enterprise models to achieve impact while earning revenue.
Read more about these models at SEA Twin Cities. Copyright Jeff Ochs.
Venn PRI As Seed Capital
Venn Program-Related Investments (PRIs), can be a great capital tool for social enterprises looking to launch a new venture, especially in the early phases of the “Valley of Death” when traditional financing is hard to find.
Venn PRI as Growth Capital
Venn PRIs can also be an excellent type of growth capital for proven or mature social enterprises looking to scale. Add some attractive, below-market financing to fuel to your fire!
Social Business Match Program
Thanks to the support of Bush Foundation, Venn has $250,000 ready to be deployed as seed capital to early-stage social businesses in our region that either (a) are owned by, led by, or primarily impacting people from under-represented communities; or (b) otherwise offer a uniquely compelling strategic value to the development of the region's social enterprise field.
Venn will invest these funds on a variable 1:1 - 4:1 match basis at $15,000 - $50,000 per PRI. For example, if a social business is selected for a $50,000 match on a 2:1 basis and works with Venn to raise $100,000 from other donors as well, then Venn would make a $150,000 PRI to the social business.
Read our SBMP Eligibility Requirements and SBMP FAQ.