SO Capital Mission
The mission of SO Capital is to accelerate the steward ownership movement by offering substantial financing solutions to the upcoming generation of steward-owned businesses. Our objective is to serve as a global beacon for steward ownership aligned and fit-for-purpose capital, with the ultimate goal of making steward ownership a viable and accessible choice worldwide.
With the founding of SO Capital, two entrepreneurial impulses are joining forces, thereby combining a wide range of expertise, experience, and resources of PURPOSE and those of Carsten Reins, a private anchor investor who wants his capital to serve the idea of SO through an exclusive investment focus on steward-owned companies. Together, we are establishing SO Capital, a steward-owned investment company with a global mission.
We start our mission by sharing the same belief: We are convinced that steward-owned businesses offer an essential answer to meet the challenges created by globalisation, monopolisation and financialisation. They contribute to a flourishing and diverse economy where entrepreneurship creates long-term value and prosperity for people, planet, and society. SO appeals to entrepreneurs who place the company’s purpose at the core of their business. For them, profit and capital are not ends in themselves, but means to advance that purpose. They wish to steward their company in the long term – spanning several generations.
In our view, steward ownership has the potential to shift economic outcomes in meaningful ways:
- A decentralised, diverse mix of small, medium, and large enterprises thrives - from local to global markets, built for the long term
- Innovation increases as companies focus on long-term value creation rather than short-term returns, leading to a wider range of better solutions, products and services
- More stable, better-paying jobs are created, as companies prioritise retaining profits over shareholder distribution in the long run.
- Social mobility increases through access to ownership that is independent of wealth or birthright
- Economic prosperity and resilience are rising and hold an increased potential to benefit the public good
We want to take the next important step to solve the challenge of “access to capital” for companies that are being established or converted into SO, or which consider SO as the best possible solution for succession. We are establishing SO Capital to become a global beacon in financing steward-owned enterprises together with other investors, members of the Steward Ownership Financing Network (SOFIN), and many other investment companies in the field. In doing so, we will make a substantial contribution to resolving the current bottleneck of aligned capital. With our cooperative approach, we shape the investor-entrepreneur relationship on the foundation of aligned interests with the company’s purpose at heart. Therefore, we actively support entrepreneurs by using our resources and networks to nourish them.
With an anchor investment of €25M already secured, combined with the opportunity to develop an existing evergreen portfolio of an additional €25M, and a core team of experienced entrepreneurs and pioneers that is ready to steward the next iteration, we will build patient fund structures and processes that enshrine the same stewardship ambition we want to see in the companies we invest in. We see that as a key element to be fit for purpose, which is to be the best possible investment partner for SO companies and to contribute to the emergence of SO within the global economy.
We believe that by reshaping the relationship between investors and companies, we can help capital become truly fit for purpose and contribute to a financial culture and landscape that genuinely supports stewardship. More and more entrepreneurs want to become and stay stewards of their company and its purpose rather than aim for profit maximisation at any cost. Employees, customers, and investors increasingly seek organisations that are steward-led and purpose-driven. Therefore, we are convinced that SO companies will have a significant competitive edge and will be the more successful, more resilient companies in the future. We are deeply convinced that the path of steward ownership will grow significantly in relevance and will play a key role in the flourishing of a healthy economy that serves society and the planet.
