VERGE Capital – Breakthrough Fund
Description:
The VERGE Breakthrough Fund is Southwestern Ontario’s first impact investing fund providing growth capital to social and environmental enterprises.
Focus is on established social enterprises and larger-scale community infrastructure (e.g. green energy projects, affordable housing developments, innovation and entrepreneurship hubs).
Comments on Funding:
Loans between $50,000 and $500,000, with rates and terms determined on case-by-case basis.
Eligibility:
Applicants must:
The eligibility criteria is focused around two key questions:
Applications Steps:
Applicants:
The review panel discusses the application as a group, and makes their recommendation to VERGE Capital to approve the loan, or that further work is needed for an approval. This decision is communicated to applicants within a week of their presentation.
Other Things to Note:
- The fund is co-managed with SVX, who collaborated on the fund design, leads due diligence, and supports governance and investor relations
- Again, there is no universal definition but we consider Southwestern Ontario as the general area between Windsor and Hamilton-Niagara. This does not include Halton Region (Burlington, Halton Hills, Milton, Oakville) or the rest of the Greater Toronto Area.
Testimonials:
When It Ends:
Ongoing
Deadline:
Rolling deadline