Resonance - Twenty Years Of Impact - Report - Page 21
AWARDS
• Highly
commended in
Property Week’s
RESI Awards
‘Social Impact’
category ‘Best
COVID-19
Response’ for our
property funds
IMPACT TIMELINE THE LATER YEARS
Resonance’s second decade witnessed enormous growth, mainly driven by the launch of new impact property funds, having demonstrated that the formula could be
replicated and scaled up. Delivering real returns in social impact was always the main focus, especially when witnessing the poverty and inequality that existed across the
nation and the huge numbers of people either homeless or in danger of homelessness. Resonance’s intention was to provide some solutions to help address these issues,
whilst seeking to make social impact investing more mainstream.
The challenges continue - poverty, inequality and homelessness are still at unacceptable levels and social impact investing, whilst
growing in scale and recognition, is still tiny in the big scale of things. Resonance will not be slowing down for the next twenty years.
• Shortlisted for
LAPF Impact
Manager of the
Year
£282K
£5M
INTO 2 ENTERPRISES
CUMULATIVE
INVESTMENT £12.6M
INTO 13 ENTERPRISES
CUMULATIVE
INVESTMENT £40.1M
£27.5M
£32.2M
INTO 7 ENTERPRISES
CUMULATIVE
INVESTMENT £72.3M
INTO 14 ENTERPRISES
CUMULATIVE
INVESTMENT £99.2M
INTO 20 ENTERPRISES
CUMULATIVE
INVESTMENT £149.2M
£50M
£34.3M
£43.1M
INTO 30 ENTERPRISES
CUMULATIVE
INVESTMENT £226.6M
INTO 28 ENTERPRISES
CUMULATIVE
INVESTMENT £235M
INTO 24 ENTERPRISES
CUMULATIVE
INVESTMENT £243.1M
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
• First Resonance fund
launches - Community
Share Underwriting
Fund (CSUF)
• Resonance launches
Real Lettings Property
Fund (RLPF1)
• Social Investment Tax
Relief introduced by
Government
• National Homelessness
Property Fund 1 (NHPF1)
launched
• Real Lettings Property
Fund 2 launches
• West Midlands SITR
Fund launches
• NHPF1 fully deployed,
raised £43.3m
• City of London
Corporation and Big
Society Capital invest
£5.5m into RLPF1
• Resonance publishes
scoping report about
the potential of a social
impact fund for Bristol
• UBS sponsors the
development of the
Resonance Bristol SITR
Fund
• Our best year mobilising
£50m of useful capital
into the hands of 20
social enterprises
• Resonance achieves B
Corp Certification
• Exceed the £200m
milestone of funds
under management
• The Women in Safe
Homes Fund launches
as a joint venture with
Patron Capital
• Resonance Everyone In
Fund (REIF) launches
and purchases the first of
sixty apartments in the
capital
• L&Q Foundation
commits £10m to RLPF1
• Resonance completes
first ever SITR deal,
Fareshare
INTO 3 ENTERPRISES
CUMULATIVE
INVESTMENT £7.6M
• Affordable Homes Rental
Fund (AHRF) launches,
the second fund launch
of the year
• Simon Chisholm joins as
investment director
• Resonance granted FCA
Authorisation
• Resonance appointed
to deliver Cabinet Office
sponsored Investment
and Contract Readiness
Fund
• Social Enterprise
Magazine is rebranded
Pioneers Post
• RLPF1 purchases 1st
property
• Resonance working
group delivers
Resonance Vision,
Mission & Values
• Resonance appointed
to deliver to Big Lottery
Fund Big Potential Fund
• Resonance staff
numbers grow to 10
• Croydon is first local
authority to invest in the
homelessness property
fund
• Big Society Capital
invests £1m in CSUF
• Stockwood CBS bought
by community for £2.6m
• Osney Lock Hydro
Archimedes Screw
installed with CSUF
investment
• Resonance achieves
Social Enterprise Mark
• Resonance publishes
Winterbourne View and
Social Investment report
• Launch of Bristol SITR
fund
• Resonance opens office
in Bristol
• RLPF1 Final Close at
£57m
• Karen Shackleton,
Graham Hodgkins
and Anita Bhatia join
Resonance as non-execs
• Resonance shared its
Investment Readiness
tools with Bangladesh
Intermediary,
Tindercapital
• Resonance impact
property funds are
housing 500 people
£26.8M
• RLPF1 completes
deployment with £57m
raised
• Resonance works with
London CLT to develop
their £450K share offer
• First investment made
from the Bristol SITR
fund into South Bristol
Sports Centre
• Health & Wellbeing
Challenge fund launches
• Daniel visits Japan to
share the UK’s Social
Investment story
• Resonance staff numbers
increase significantly in
three years, now 25
• £50m milestone
impact funds under
management
AWARDS
• Real Lettings Property Fund wins Property
Week’s RESI Awards for Newcomer of the Year
• Resonance wins SEUK Deal of the Year 2015 for
the first social impact tax relief (SITR) Deal with
Fareshare SW
• Real Lettings Property Fund wins Estates
Gazette MIPIM UK award for Private Rented
Sector Initiative of the Year
20
• The first investment is
made from the Health
& Wellbeing Challenge
Fund (SW) into Karrek
Community
• Reached £100m funds
under management
• Resonance HQ base
in Cornwall moves to
bigger offices
• BBC interview Daniel
about Resonance
property funds
• First SITR marketplace
event where investors
and investees meet
together
• Resonance contributes
case studies to Corley
report on ‘Growing a
Culture of Social Impact
Investing in the UK’
• Resonance impact
property funds are
housing 1,000 people
• £125m milestone
impact funds under
management
INTO 33 ENTERPRISES
CUMULATIVE
INVESTMENT £183.5M
• Greater London
Authority invests £15m
in Real Lettings Property
Fund 2
• Resonance Community
Developers unlocked
£850k of grant funding
• Resonance and Ashley
Community Housing
develop first UK yield
sharing finance which is
also sharia compliant
• Resonance listed as
number 6 in KPMG’s
75 fastest growing of
all firms in Devon and
Cornwall
• Simon speaks at
municipality of Milan
conference on placebased investing
• Joined the NatWest
SE100 Index as one of
the UK’s top 100 social
enterprises
• Resonance impact
property funds are now
housing 1,500 people
• Guys & St Thomas’
Foundation invests into
Real Lettings Property
Fund 2
AWARDS
• Resonance
wins Pensions
for Purpose Best
Social Impact
Paper Award 2018
for “How Property
Investment Can
have Social
Impact”
• Resonance West
Midlands SITR
Fund wins
Worthstone
Impact Champion
Award 2018 for
New Product
Launch
• £200m milestone
impact funds under
management
AWARDS
• Resonance
Homelessness
Property Funds
win NatWest
SE100 Good Deal
of the Decade
Award
• Resonance and
Smile Together
win SEUK Deal of
the Year
£8.4M
• National Homelessness
Property Fund 2 (NHPF2)
launches
• Resonance Supported
Homes Fund launches
• Greater Manchester
Pension Fund - the first
local authority pension
funds, invests into
homelessness property
fund
• Resonance supported
Mustard Seed Property
and Co Cars with their
respective share offers,
both raising in excess of
£600k each
• Community Share
Underwriting Fund
achieves exit with
predicted impact and
returns
• MacArthur Foundation
are first US investors
into our impact property
funds
£8.3M
• Real Lettings Property
Fund 2 fully deployed
• All-women Senior Board
of Advisors for Women
in Safe Homes Fund
• National Homelessness
Property Fund 2
purchases its first
property
• Number of housing
provider partners grows
to over 20
• Social Enterprise Support
Fund distributes £3.2m
to 120 organisations
• Resonance Supported
Homes Fund buys and
refurbishes its first
shared property
• £300m funds under
management
• BSC and Schroders
launched the Schroder
Big Society Capital Social
Impact Trust plc
• Resonance staff
numbers double in five
years to a team of 50
BETTER SOCIETY
AWARDS 2022
• £250m milestone
impact funds under
management
WINNER - MAJOR
PROJECT OF THE
YEAR for Resonance
Everyone In Fund
21