Updated: Jun 20, 2019
Madrid – August 2018.
UnLtd Spain (with the support of Rothschild Foundations), Open Value Foundation and Eurocapital Wealth Management EAFI have created the Secretariat (“Impact Forum”) of the Spanish Working Group with the goal of adhering Spain to the Global Steering Group for Impact Investment (GSG) in 2019. GSG is an international organization that promotes impact investing, already joined by 18 countries, that has made important advances regarding legislation and the revitalization of the private sector. This initiative – encouraged by partners like GAWA Capital, Ship2B and CREAS – will be structured around three working commissions on supply, demand and intermediation.
Impact Forum (Jose Luis Ruiz de Munain) is trying to attract social impact investors with the aim of increasing impact financing in Spain and consolidating collaboration in the sector. Accordingly, the “Supply Commission” has been integrated by top-tier Spanish entities, representing main categories of impact capital providers, including private banks, insurers, family offices, the public sector, foundations and institutional investors.
In line with this, Impact Forum has held in Cuatrecasas headquarters (Madrid) the workshop “The path of Spain towards the GSG and its Impact Capital Offer: a growing segment”. The event was presented by top sector players, like Big Society Capital (CEO Prior Cliff), the biggest public-private fund of funds in the UK, with £600 million under management, and leader of the global GSC initiative in charge of promoting this financing strategy in other countries.
Other participants (panel discussion) were Magallanes Value Investors (Blanca Hernández), Seed Capital Bizcaia promoted by the Provincial Council of Bizkaia (Oscar Ugarte), the foundation Anesvad (Isabel Goiri) and GAWA Capital Partners (Agustín Vitórica), pioneering impact intermediation investors in the private, public and NGO sectors.
Throughout 2018, the supply, demand and intermediation commissions will meet to work on a set of recommendations that will guide Spain’s candidacy to formally adhere the GSG. The next meeting will be held by the “Demand Commission” in Bilbao in October 2018.
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