Edmond de Rothschild Foundations join forces with La Bolsa Social to finance Spanish companies fighting against COVID-19

12/18/2020 - Networks

The alliance is the result of a call issued by La Bolsa Social, the first Spanish crowdequity platform, to finance startups developing solutions to the challenges raised by the public health crisis in Spain. 

When the terrible economic and social consequences of the Spanish lockdown were becoming apparent at the beginning of the COVID-19 crisis, La Bolsa Social quickly mobilized and in March 2020 created Inversion de Impacto para Hacer Frente al Coronavirus, an initiative to support the development of impact startups addressing the public health, societal and economic challenges posed in Spain. It consisted of (1) forming an alliance of private investors such as foundations, impact funds, and business angels, (2) organizing a call for applications and pre-selecting the most promising impact startups at seed and growth stages, and (3) securing anchor investment from members of the alliance and presenting on the crowdequity platform to complete the investment round.

The Edmond de Rothschild Foundations was searching for a partner who could propose a new and agile approach for immediate impact on the collective fight against the virus. “This initiative has been a great opportunity, since it has allowed a group of diverse investors driven by impact to collaborate and financially support the scalar increase of existing solutions. It is also an opportunity for us to continue advocating for the convergence of business and impact. We believe this crisis will be a catalyst for a transition toward an economy where returns are measured not only by financial criteria, but also by environmental and social ones”, says Angelo Konian, Head of Entrepreneurship.

Over an eight-month period, nearly 100 projects were submitted and three Spanish companies selected for a total investment of 450,000 euros: TucuviCiclogreen and Encantado de Comerte

The Edmond de Rothschild Foundations have long advocated for the role of philanthropists as sustainable investors. In this regard, we intend to pursue our activities in Spain to foster the development of a Spanish investor ecosystem that advocates and acts for sustainability, bridging financial performance and the common good.