Last year Social Investment Scotland (SIS) Launched the UK's first Social Investment Tax Relief (SITR) fund, SIS Community Capital, and we can now report the successful divestment of all the proceeds. SIS were inundated with applications for this pioneering form of finance and ultimately invested in seven inspiring and impactful enterprises from across the country.
Thomas Gillan, Chief Financial Officer at SIS commentated, "SITR really does provide charities and social enterprises the means to access flexible and affordable investment. In offering this fund, SIS has seen a significant level of interest from both investors and sector organisations and we're keen to do more in this space going forward".
NCM Fund Services assisted in the establishment of the SITR fund and act in an ongoing capacity as regulated fund manager.