The 'Fondo de Impacto Social (FIS)' ( Social Impact Fund ), managed by COFIDES and attached to the Ministry of Inclusion, Social Security and Migration, and Impact Bridge — a Spanish fund manager founded in 2018 and specialized in high-quality impact investing — have announced a joint €5 million investment in tuTECHÔ, through its ‘IB Deuda Impacto España’ fund. tuTECHÔ is the first social enterprise to be listed on the Spanish stock exchange and a leader in creating sustainable solutions to eradicate homelessness in Spain.
The investment consists of a loan to Techo Hogar SOCIMI, the company’s impact investment vehicle, which will enable it to acquire new housing units and strengthen its operational capacity, thus expanding the reach of the project and the number of people benefiting from it in situations of extreme exclusion. Specifically, the FIS will provide €3.5 million and complement its participation with a specific budget for technical assistance, with the aim of enhancing impact measurement and supporting tuTECHÔ’s pioneering rural repopulation project, among other initiatives. Impact Bridge, for its part, will contribute €1.5 million through its debt fund, in which the FIS also participates.
tuTECHÔ serves as a meeting point for companies, impact investors, public administrations, philanthropists, and Third Sector organizations with a common goal: the eradication of homelessness. Through an innovative model, tuTECHÔ leases homes to social organizations, which in turn allocate them to people in vulnerable situations, such as the homeless, victims of gender-based violence, formerly institutionalized young people, or immigrants without support networks, among other groups. Founded in 2021 by Blanca Hernández — also founder and CEO of Magallanes Value Investors — the company has provided a dignified home to more than 1,800 people, in collaboration with over 75 social organizations. With a portfolio of 400 properties and over €40 million in accumulated investment, tuTECHÔ has established itself as a leading platform in the field of social impact investment in Spain.
tuTECHÔ’s homes are strategically distributed across the Spanish territory, covering both large urban areas and key settlement zones, such as Níjar in Almería, as well as rural Spain. Properties are acquired in communities and neighborhoods where social needs exist, rather than where real estate returns are highest. This strategy not only facilitates the recovery of housing stock for social use, but also provides new opportunities for individuals and contributes to repopulating territories affected by the phenomenon of "empty Spain." More than 2,000 people are expected to benefit from these homes.
Elena Rodríguez, Secretary General of Inclusion, emphasized that “this investment will expand the housing stock available to the most vulnerable population, demonstrating that the FIS drives social change and addresses the issues that matter most to society, as highlighted by the Prime Minister last Thursday. It is essential to act from the public sector, in collaboration with the private sector, to guarantee the right to dignified and adequate housing and to continue strengthening social inclusion and cohesion.”
Ángela Pérez, Chairwoman and CEO of COFIDES, highlighted the unique and innovative nature of the FIS, “a public instrument created to provide financial support to projects that tackle major social and environmental challenges in Spain, such as territorial integration, the reduction of inequality, or the strengthening of the welfare state. The investment in tuTECHÔ demonstrates the transformative power of impact financing that the FIS seeks to promote: facilitating access to dignified and affordable housing for the most disadvantaged, particularly those experiencing homelessness or at risk of housing exclusion, and promoting an innovative solution.”
Maria Samoilova, Head of the ‘IB Deuda Impacto España’ fund and Managing Partner at Impact Bridge, noted that “at Impact Bridge, we seek projects with a clear purpose and real capacity to create change. tuTECHÔ has not only consolidated itself as a reference platform in access to housing in Spain but also embodies what we define as impact investing: a pioneering, proven, and scalable model with the potential to become a turning point in the fight against homelessness.”
Blanca Hernández, founder and Chairwoman of tuTECHÔ, added: “Thanks to this investment, we will be able to continue expanding our network of homes and, in doing so, provide new opportunities for a dignified life to those who need it most. The collaboration with COFIDES and Impact Bridge not only provides funding but also strategic support that drives our mission to eradicate homelessness through a sustainable and transformative approach.”
Following the recent investment in Fundeen, this transaction marks the latest milestone for the ‘IB Deuda Impacto España’ fund, managed by Impact Bridge. In this context, the fund already supports high-impact social initiatives led by organizations such as Talento y Experiencia, ILUNION (ONCE Social Group), and Formació i Treball, linked to Moda re-, among others. Launched in 2023 with the backing of the European Investment Fund (EIF) and MicroBank, ‘IB Deuda Impacto España’ is the first impact debt fund focused exclusively on the Spanish market.
ABOUT THE SOCIAL IMPACT FUND (FIS)
The FIS is a fund created by the Spanish Government through the addendum to the Recovery, Transformation and Resilience Plan (PRTR) and is financed with resources from the NextGenerationEU instrument. Managed by the Ministry of Inclusion, Social Security and Migration, it is a public financial instrument designed to strengthen Spain’s impact ecosystem by supporting investment projects carried out by companies and other entities that generate a positive and measurable social and/or environmental impact.
The fund has an allocation of €400 million and offers financial support to projects that are financially sustainable and that address underserved social and environmental challenges, while also promoting the mobilization of additional private resources.
ABOUT IMPACT ASSET MANAGEMENT
Founded in 2018, Impact Bridge is a Spanish fund manager with over €400 million in assets under management, specializing in impact investing and focused on projects that generate genuine, intentional, and measurable impact. As a Collective Investment Institutions Management Company (SGIIC), it is regulated by the CNMV. Its team is composed of professionals with extensive experience in top-tier financial institutions. Its investor base includes private institutional investors such as pension funds, foundations, and family offices, as well as public investors like the European Investment Fund, CDTI, COFIDES, and Axis (ICO Group). The firm has a solid shareholder structure, including its management team and strategic institutional investors.
ABOUT TUTECHÔ
tuTECHÔ is a solution designed to help end the most chronic social problem in Spain: homelessness and the lack of housing. It is an innovative initiative that enables social organizations to support the integration of individuals in extreme vulnerability through two complementary initiatives: tuTECHÔ Hogar, a social and sustainable real estate company with high social impact, and the tuTECHÔ Foundation, which amplifies the impact of this solution beyond housing. tuTECHÔ is an ecosystem of collaborators committed to a common goal — tackling major social challenges through alliances among purpose-driven companies, social organizations, impact investors, philanthropists, public administrations, and individuals.
ABOUT COFIDES
COFIDES is a state-owned enterprise that manages public financial resources, as well as its own and third-party funds, with different objectives: internationalizing the Spanish economy, attracting foreign investment into strategic sectors in Spain, promoting the impact economy in Spain, and contributing to the development of countries where it invests. Its shareholders include the Spanish State as the majority stakeholder, along with Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF–Development Bank of Latin America.
ABOUT ‘IB DEUDA IMPACTO ESPAÑA’
Launched in July 2023 with the support of MicroBank, 'IB Deuda Impacto España' is a flexible private debt fund focused on capital preservation, aimed at financing projects with social and environmental impact in Spain. Its focus areas include rural development, labor inclusion, climate and the environment, the circular economy, sustainable agriculture, and gender equality.
The fund is backed by major institutional investors such as the European Investment Fund (EIF), MicroBank, Axis Participaciones (ICO Group), COFIDES, and other key players in the financial sector. With a lifespan of seven years, including three years of investment and four years of repayment, it is registered in Spain by the CNMV as a European Social Entrepreneurship Fund (EuSEF) and complies with the highest sustainability classification (Article 9 of the SFDR regulation). Impact Bridge has been supported by the EIF through its Alternative Lending for Sustainable Development instrument, within the framework of Spain’s Recovery, Transformation and Resilience Plan.
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