Stockwood CBS

Resonance is a South West based social investment intermediary, who advise on, and manage, a number of social investment funds.

Resonance works with social enterprises and charities to help them raise capital from like-minded investors. They have a range of investment funds to support work that is tackling social issues including homelessness, poverty, community-led projects, health and wellbeing and education.



As a social investment intermediary with thin margins, they have little resource to develop new social investment products.

Impact goal

In line with our approach to social investment, this investment meets our objective to influence the social investment market by building a more innovative social investment market. It will also help us to achieve our goals in Creative, Confident Communities.

  • Local economies work better for the people who live there
Ben Smith, Head of Social Investment, Esmée Fairbairn Foundation

We have a longstanding relationship with Resonance: we were the first investor in their first fund, making a £500,000 commitment to the Community Share Underwriting Fund, which went on to attract over £3 million in investment. The fund in turn managed to unlock over £30 million of capital into community-led projects nationwide.

In July 2018, we made a repayable grant facility available to build on an existing repayable grant made in March 2014 for product development. Drawdowns of up to £75,000 are used as match funding to fund product development. If a product comes to market, we are repaid from management fees raised. Over £700,000 has been drawn down and resulted in three successfully launched funds: the National Homeless Property Fund, Real Lettings Property Fund² and the South West Social Investment Tax Relief Fund. In total, these funds have unlocked around £140 million of investor capital for social enterprises from nearly 100 different investors.