Current Social Enterprise Investments
Atira Property Management
Atira Property Management (APM) provides a range of financial, administrative, and physical property management services to residential and commercial property owners throughout the Vancouver area. APM's list of clients includes strata (condominium) corporations, non-profit housing agencies, and apartment buildings.
APM's social mission is to support its parent organization, the Atira Women's Resource Society in its mission to help women, and their children, who are experiencing the impact of violence. The property management company supports the Resource Society by donating its profits and by providing quality job opportunities for women who are trying to re-enter the workforce and for residents of the downtown Eastside. Currently almost 100 people are employed in this profitable and growing company.
SCP arranged an investment in the form of a loan to help finance the ongoing growth of the property management company.
Renaissance
Renaissance is a charitable organization whose mission involves the professional and social reintegration of people having difficulties joining the labour market. It accomplishes this mission, in part, by operating a Montreal-based chain of second hand stores called Fripe-Prix. Every year, approximately 200 employment training participants are employed in these stores for 6 months and then placed in private sector employment. The stores provide affordable clothing and household items to the community while creating employment opportunities for individuals with significant employment barriers. Renaissance is affiliated with Goodwill International.
The goods sold at Fripe-Prix are recovered through a network of donations bins and donations centers accross the Greater Montreal. The donations made by the public and businesses consist mainly of clothing but they also receive furniture, books, toys, small electrical appliances, electronic components, and computers. Renaissance presently recovers seven million pounds of used goods per year.
SCP facilitated a combination of grant and loan financing that allowed Renaissance to launch a new flagship Fripe-Prix store in Montreal. SCP also arranged for Renaissance to receive strategic advice from our partner, The Monitor Group.
TurnAround Couriers
TurnAround Couriers is a Toronto-based bicycle courier business that opened for business in October 2002. Turnaround exclusively recruits youth-at-risk from shelters and agencies to be both the bicycle couriers and the back office staff. The goal is to create a successful courier company while at the same time enabling youth-at-risk to gain the experience, confidence and financial means necessary to maintain stable housing and eventually enter the job market. Throughout its history, TurnAround has employed more than 100 at-risk youth, approximately 80% of whom have moved into stable housing, next-step employment and/or furthering their education.
SCP arranged for a combination of equity and debt financing for to fund various fixed and working capital requirements during the startup phase of operations. SCP has also assisted TurnAround in matters of business development and social mission planning.
Previous Social Enterprise Investments
Inner City Renovation Inc. (ICR)
ICR is a professional renovations company based in Winnipeg, Manitoba, that is committed to revitalizing the inner city and creating quality employment for low income residents. ICR has renovated dozens of houses and commercial buildings throughout the inner-city of Winnipeg and provides quality jobs for 15-20 local residents.
ICR started as a joint venture between five community housing organizations committed to inner city renewal through housing improvements and job creation. SCP arranged for investments in the form of grants and loans, all of which were matched by our local partner, Community Ownership Solutions. SCP also provided extensive support in the areas of strategy, finance and social mission development.
SCP is pleased with ICR's achievement, and continues its support and involvement on the board of ICR, but no longer has an active investment in the company. We believe ICR has reached a stage where other funding sources are more appropriate.
Pivotal Services
SCP facilitated a combination of grant and loan financing to Pivotal Services. Pivotal specializes in contract packaging, contract assembly, mailing services and clean room processing and is the largest packaging/assembly company in southwestern Ontario. At the same time, Pivotal provides employment opportunities for individuals with employment barriers who are eager to re-enter the workforce.
SCP's investment enabled Pivotal to develop its management team, access new business and improve its social mission. SCP also arranged for Pivotal to receive strategic advice from our partner, The Monitor Group. SCP is no longer involved in the financing or governance of Pivotal, but the SCP team continues to be a strategic resource and sounding board for the management team.
Cook Studio
Cook Studio operated a catering business, commissary kitchen, and a café out of facilities located on the Downtown East Side of Vancouver. Cook Studio also had a contract with the Edgewater Casino in downtown Vancouver to provide all in-house food services for casino patrons and staff. The purpose of these enterprises was to create jobs and build skills for the long-term unemployed and youth at risk. Employees of these enterprises learned valuable professional cooking and service skills while operating within a competitive business.
Social Capital Partners, in conjunction with VanCity Capital Corporation, arranged for debt financing for equipment upgrades and working capital expansion. Cook Studio ceased operations in 2006. Although the company has closed, it leaves a lasting legacy through the many employees and trainees whose lives it helped to change for the better.