Facilitates access to credit and co-investment for implementing organisations with social innovation projects based on sustainable business models.


The Social Innovation Fund (SIF) is an impact investment fund aimed at supporting SISEIs in the consolidation or expansion stage that are seeking significant investment and have the financial sustainability to repay investments.

Groundbreaking Instrument

In addition to being an innovative experiment under the European Social Fund, the SIF is the first public financial instrument aimed at stimulating the social impact market to enable credit institutions and equity investors (for example, venture capitalists and business angles) to directly participate in social innovation and social entrepreneurship projects.

How it Works

The SIF was created as an autonomous fund under Decree-Law No. 28/2018, of 3 May and is dedicated to financing/investing in impact enterprises that are recognised as SISEI by the Portugal Inovação Social Mission Unit.

It comprises two financial instruments:

SIF Debt – With a wholesaler approach, this instrument will provide guarantees and counter-guarantees among other favourable conditions to credit institutions allowing them to fund SISEIs at below the market conditions The terms associated with these loans, namely graces period, loan maturities, interest rates and putting up collateral, are better than those usually offered by the market, and are more suited to their actual needs.

SIF Equity – Always alongside private equity co-investment in the final beneficiaries, this instrument leverages equity and quasi-equity investors, granting them a call option during the first six years of investment.

Who can apply?

SIF DEBT – Social sector organisations and SMEs.


  • Managing Authority
  • Fund Manager

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