Spain's Social Impact Fund debuts with 65M€ first close | Ship2B.

Spain’s social impact investing scene reaches a milestone as BSocial Impact Fund II launches, boasting a total target of 80M€ and achieving a first close of 65M€. This milestone positions the vehicle as the largest dedicated social impact fund in the country, signaling a decisive shift toward blended finance that prioritizes measurable social outcomes alongside market-rate returns.

In a climate where European capital increasingly links with public policy aims, Ship2B’s announcement underscores a growing ecosystem of anchor supporters. The fund’s backers span public and private institutions, including the European Investment Fund (EIF), COFIDES, AXIS (Grupo ICO), Banco Sabadell, VidaCaixa, ICF and Ajuntament de Barcelona, reflecting a broad coalition of impact-focused finance willing to blend grant-like and debt/equity instruments to accelerate social and environmental outcomes.

Ship2B highlights a durable track record: over twelve years of activity, the team has accelerated more than 1,000 projects and invested in 56 ventures. The portfolio has delivered an 85% survival rate, with roughly 70% of holdings exhibiting double-digit growth and several notable exits. This proven performance is intended to underpin the new fund’s thesis: scale impact with disciplined governance and rigorous measurement, not at the expense of financial discipline.

With BSocial Impact Fund II, Ship2B intends to back around 30 projects focused on quality-of-life improvements for elderly populations and climate resilience. The fund aims to mobilize capital beyond traditional philanthropy, enabling portfolio companies to scale through blended financing structures, strategic partnerships, and targeted ecosystem-building initiatives.