Good Deed Impact Fund exceeds €1 million mark

Today, May 11th, marks the start of a new three-year period for the Impact Fund, which will invest more than €600 000 in growing impactful social initiatives. During the previous period, the Fund supported initiatives with €400 000. As an innovation, the Good Deed Impact Fund is also ready to make impact investments in the future.

According to Pirkko Valge, CEO of the Good Deed Foundation, the Impact Fund, launched three years ago, was in some ways a step into the unknown. “Although we believed there was a need for a fund in Estonia that, firstly, would not be afraid of complex issues and, secondly, would invest not only money but also expertise in organisations, it was the first of its kind in Estonia and the neighbouring countries. Today we know for sure that the impact fund model is effective,” said Valge. She pointed out that with the support of the fund, the activities of the Bullying-Free School and the Substitute Teacher Programme have expanded nationwide.

In the new period, the size of the Good Deed Impact Fund will be half as much as before, increasing from €400 000 to more than €600 000. This brings the total size of the fund to over €1 million over the two periods. “The fund has a number of new supporters, thanks to whom we will be able to give a much stronger boost to the development of effective solutions over the following three years,” said Pirkko Valge. “In addition, we are ready to make impact investments in social enterprises to encourage their growth.”

To date, 19 individuals and 6 companies have contributed more than €600,000 to the second period of the Impact Fund, with plans to increase this amount over time.
“When it comes to supporting social issues, it is particularly important how many people benefit from a solution – how many lives are improved as a result. The Impact Fund pays great attention to ensuring that the impact of a solution is measurable. This also gives me as a donor the confidence that my contribution is going to the right place,” said Andres Rätsepp, one of the owners of Graanul Invest, a supporter of the Impact Fund.

The Good Deed Impact Fund is looking for solutions with nationwide potential. The fund is ready to contribute both financially and with its expertise to initiatives that, for example, reduce economic inequalities, improve the well-being of children/families/elderly people, promote public health or solve environmental problems. Candidates will be subject to a rigorous assessment of the solution, the impact assessment model and the capacity of the organisation. To express an initial interest, please fill in a short application form on the website of Good Deed Foundation.

The Heateo Impact Fund is Estonia’s first philanthropic fund, established in 2018, and is a joint effort of individuals and companies who care about Estonia. The fund has already supported the expansion of the activities of Bullying-Free School, the SPIN programme, the Substitute Teachers Programme, the initiative Paw and Hand, the NGO Peaasjad and the Child Wellbeing Development Centre.

The Good Deed Foundation launches and scales initiatives that address pressing societal challenges in Estonia. Together with private individuals and companies who care about Estonia, the Foundation has launched several nationwide initiatives during its 18 years of operation, such as the Re-use Centre, Teach for Estonia, Bullying-Free School and the SPIN programme. Together with Swedbank, the “I love to help” donation environment was established 13 years ago.