IVN awarded the Government Tender to Establish and Operate a Social Yozma Fund

Posted by on Mar 22, 2015 in News |  

For the first time in the history of Israel, the Israeli Government issued a government-sponsored tender for the management and co-funding of a social business investment fund: Yozma Fund. The tender is a joint effort between the National Insurance Institute, the Finance Ministry and the National Economic Council.

IVN was awarded the tender to establish and operate a Yozma Fund, investing in and supporting social businesses.

This government initiative is a significant milestone in the evolution of Israel’s social business sector. This pioneering step is in great part a result of the vision and hard work by IVN and its partners over the last three years.

The Fund’s Social Mission is to create an opportunity for sustainable social change by investing in and mentoring social businesses that focus on vocational training and employment for youth-at- risk, people with special needs, recovering addicts, released convicts, chronically unemployed, elderly and single parents. IVN will establish and manage a fund of NIS 23.5 million that will invest in 15-20 social businesses over the coming years. What makes this fund so unique is that it brings both government, business and philanthropic funds to the table, all in support Israel’s emerging social business sector.
In parallel, IVN will continue to support and grow this sector in other arenas and with other social funds.