The United Nations has established a multipartner fund that will invest in social enterprises, which have the potential to scale up within the “global south,” Devex has learned.
Considered a pioneering fund, the U.N. Social Enterprise Facility for the South will pool official development assistance and equity funds and initially support social enterprises in Asia and the Pacific.
“There's nothing like it in the U.N. at all; if I look around the landscape, there's nothing like this anywhere,” J. David Galipeau, proponent and manager of UNSEF as well as a knowledge and innovation team leader based at the Asia-Pacific Regional Center of the U.N. Development Program, told Devex.