We deliver resources directly to carefully vetted, high-impact local projects on the ground. We seek sustained impact by investing in organizations that stay after traditional aid runs out. We are nimble, lean, strategic, effective and entrepreneurial.
Tackling the key issues facing refugees today
We continue to innovate
Our founding partner, The Giustra Foundation, is seeding the creation of an investment vehicle, the Ascend Venture Fund (AVF). AVF will be the first social impact fund in Greece. With support from the Collaborative, AVF will create livelihood opportunities for refugees, migrants and vulnerable Greeks.
The Ascend Venture Fund extends debt and equity investments to SMEs (small and medium-sized enterprises) in labour-intensive industries and social enterprises to catalyze creation of quality employment for target populations. It supports portfolio companies in becoming more efficient through separate technical assistance vehicles (philanthropic funds that help with training, change management, amongst others). The AVF investments applied to for-profit companies and social enterprises.
While still recovering from a financial crisis that reduced its GDP by 25% between 2008 and 2014, Greece bore the brunt of the refugee crisis, with over one million people – largely coming from Syria – passing through the country between 2014 and 2016.
AVERAGE COST PER REFUGEE
With the economy still struggling to recover, over 60,000 asylum seekers and refugees remain in the country. Over 20,000 are trapped in camps on Greek islands, living in desperate conditions. Emergency relief funds are dwindling and refugees are rapidly fading from mainstream news headlines.
OF EVERY DOLLAR SPENT IS ESTIMATED TO HAVE BEEN WASTED
The geographic position of Greece as the conduit into Europe means that it is likely to witness ongoing refugee and migrant flows from the Middle East and Africa for the foreseeable future. Meanwhile, the aid is often being wasted and not getting to those who need it.