Impact investing is a rapidly growing phenomenon. Various impact investment funds invest in enterprises focusing on sustainable energy, the circular economy, sustainable food systems and social inclusion. However, very few impact funds invest in the transformative power of the cultural and creative sector.
This feasibility study explores whether impact investment could be a suitable form of financing for the cultural and creative sector in the Netherlands and whether there are enough cultural enterprises with impact potential that are investable. In addition, we examine whether there is interest among impact investors to invest in the sector.
This study was commissioned by DOEN Participaties, the social investment company of Stichting DOEN, the fund of the Nationale Postcode Loterij and VriendenLoterij. The study primarily focuses on the Netherlands. For comparison, we occasionally reference initiatives and funds in other European countries and the United States, but these examples are purely for illustration or comparative purposes. The context of the cultural sector and the financing landscape varies significantly across Europe and between Europe and the United States.
This feasibility study consists of four chapters. Chapter 1 provides background information on impact investing and the cultural and creative sector and explains what we mean by impact in this context. Chapter 2 discusses the financing landscape for the sector in the Netherlands. Chapter 3 examines various potential subsectors, their characteristics, revenue models and needs. Chapter 4 elaborates on several fund variants and focus areas. Chapter 5 offers suggestions for follow-up actions.