The Social Impact Fund (FIS), managed by COFIDES and attached to the Ministry of Inclusion, Social Security and Migration, has formalised its first investment in the residential sector with social impact. This is a joint operation with the Spanish fund manager Impact Bridge worth €5 million, aimed at financing the expansion of the social enterprise tuTECHÔ through the acquisition of new properties.
The loan is channelled through Techo Hogar SOCIMI, tuTECHÔ's impact investment vehicle, and aims to strengthen its operational capacity and expand its affordable housing stock for people in vulnerable situations. It is estimated that more than 2,000 people will benefit from this initiative, including homeless people, victims of gender-based violence, former foster youth and immigrants without a support network.
The Social Impact Fund (FIS) provides 3.5 million and includes an additional budget for technical assistance to improve impact measurement mechanisms and support the rural repopulation project led by tuTECHÔ. Impact Bridge contributes €1.5 million through its debt fund, in which the IFS recently committed an investment of €30 million.
Founded in 2021 by Blanca Hernandez, tuTECHÔ has provided accommodation to more than 1,800 people through agreements with more than 75 social organisations. It currently manages a portfolio of 400 properties distributed throughout Spain. The company prioritises the acquisition of housing in neighbourhoods and municipalities with social needs, including rural areas affected by depopulation. Hernández pointed out that this investment will allow them to "continue to expand our network of homes" and advance in their mission to eradicate homelessness "from a sustainable and transformative approach".
The Secretary General for Inclusion and President of the Interministerial Technical Investment Committee of the FIS, Elena Rodríguez, stated that this investment will allow them to expand the housing stock available for the most vulnerable population and strengthen social inclusion and cohesion.
For her part, Ángela Pérez, President and CEO of COFIDES, highlighted the role of the FIS as an instrument for tackling "social and environmental challenges" and promoting access to decent housing for disadvantaged groups. Maria Samoilova, head of the IB Deuda Impacto España fund, underlined the scalability and solidity of the tuTECHÔ model.
The Social Impact Fund was created through the Plan for Recovery, Transformation and Resilience (PRTR) and has an endowment of EUR 400 million financed by the NextGenerationEU instrument. Its purpose is to support sustainable projects with social or environmental impact and to mobilise complementary private investment.