About this Program
The Social Enterprise Investment Fund is a new, innovative fund established and managed by reSET to generate growth in Connecticut’s social enterprise sector.
Our Investment Focus
The Social Enterprise Investment Fund (“SEIF”) has a mission to encourage the establishment and growth of social enterprises in Connecticut by providing social entrepreneurs with access to capital.
Initially, the objective of SEIF will be to provide loans and grants to start-up social enterprises that are seeking financing to maintain and/or grow their businesses. In the future, SEIF intends to raise a venture capital fund to help scaling social enterprises grow
Grants: Social enterprises that demonstrate a promising business idea may apply for grant funding to help test a proof of concept to help establish viability and isolate technical issues with a product or service that they plan to bring to market.
Social Enterprise Loans: The goal for these funds will be to provide social enterprises with operating capital or to fund specific projects. The loans will be priced reasonably by the SEIF, with non-punitive payback schedules that are designed to provide the social entrepreneur with flexibility and an easy repayment plan.
Background and Fund Management
reSET is a non-profit organization whose mission is to advance the social enterprise sector. Its strategic goals are threefold: to be the “go-to” place for impact entrepreneurs, to make Hartford the Impact City, and Connecticut the social enterprise state.
Social Enterprise Investment Fund (SEIF)
SEIF operates as an independent LLC wholly owned by reSET with a separate board of directors overseeing the direction, policy, and leadership of the SEIF. Currently, this board is comprised of the following directors:
- James Carter (Chair): Principal, Carter Realty
- Kate Emery: CEO, The Walker Group
- Tom Clark; Principal, Oldtowne Partners
- Barbara Rubin: EVP, iSTAR Financial
- Mark Cousineau: President, Community Investment Corporation
- Claire Leonardi: Fmr. CEO, Connecticut Innovations
SEIF’s capital, including invested/contributed funds as well as repaid principal, will be used primarily to fund new loans. Any income may be used to support reSET’s operations or to increase the funds available for lending.
- Connecticut, US