Connect Fund has made an equity investment in Singlify, the startup that created the modular and customisable Investment Management system.
Connect Fund is a £3m social investment infrastructure fund managed by The Barrow Cadbury Trust. The Trust was set up in 1920 by Barrow Cadbury, then chairman of the famous family-owned Cadbury chocolate business, and his wife Geraldine.
Singlify is Connect Fund's first equity investment, and one of very few UK social investments using equity rather than debt as a way to provide finance.
Connect Fund issued Singlify with a 'convertible loan note' of £50,000. After 36 months, the investee either repays the loan with zero interest, or it's converted to equity (shares in the business) at a valuation determined at that point. Read the Entire Article
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The Northern Zone Social Enterprise Hub at Ballymena’s Ecos Centre has now officially opened. The launching ceremony was carried out by Social Development Minister Nelson McCausland.