Dear Friend
As Resonance turns fifteen this year (it's actually our birthday this month) with £150m of funds under management, there is a fair bit we could celebrate. However we remain resolutely focused on getting investment appropriately into the hands of the social entrepreneurs who can put it to work in truly impactful ways. I still feel as if we are just at the beginning of our ambition, but I am immensely proud of a team who, across both our funds and ventures, is now deploying approximately £3m of investment per month.
You can read more about all the stories mentioned from the links below including:
- Our fifth investment from the Resonance Bristol SITR Fund into community interest company Bearpit Bristol, to help revitalize the St James roundabout area of the city;
- the launch of our third Property Fund, the Real Lettings Property Fund2, in partnership with St Mungo’s homelessness charity;
- the inaugural investment from the Health & Wellbeing Challenge Fund (South West) into Hollywell Housing Trust, which provides bespoke housing services for vulnerable people in Devon & Cornwall; and
- an investee's project that received funding from our Affordable Homes Rental Fund has been such a success that other community groups have visited the site to learn from their experience. Broadhempston CLT has completed their self-build development and the families have moved in.
Scale is not an end in itself, but it is encouraging to see that the size and track record of our property funds are such that they are now attracting interest from institutional investors who are recognising that these large scale impact funds offer good risk-adjusted returns on a diversified residential property portfolio; leases which insulate investors from the risks they cannot manage, and a measurable impact on one of the key issues in homelessness. Even the BBC has learned about the National Homelessness Property Fund's work in Bristol and interviewed one of our tenants. The video can be viewed from the home page of our website.
Best regards
Daniel
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