For social enterprises

We invest and nurture social enterprises which utilize and test innovative models and solutions to achieve a better social impact. As a part of our investment strategy we will provide:

Grants + non-interest loans to the social enterprises which demonstrate having:


An experienced team of 1+ year(s) of operations

Social impact

Proven social impact results

Business model

A validated and market-proven business model with positive financial results


Potential to scale

Small grants to early-stage startups which have:


An experienced team of 1+ year of operations


A highly motivated leader or founders’ team

Social impact

High potential to generate impact


A new idea for the Armenian market

Investment process

1. Receiving applications

Applications are accepted during the year: social enterprises submit their pitch decks and application forms.

2. First screening

The VIA Fund team checks applications in terms of eligibility criteria. The VIA Fund team checks if the social enterprise is a strategic fit short-lists potential investees.

3. Due diligence

Shortlisted applicants go through the due diligence process. During this process, the VIA Fund team analyzes your company in terms of:

  • social impact

 social impact of the enterprise, and its basic indicators

Mission and motivation of the team to achieve better social impact

  • financial sustainability (including credit history check)

financial model and planned financial indicators

growth and development opportunities

  • organizational resilience 

the overall business strategy and market position, the team

management and decision-making structure, operational processes, legal aspects of the enterprise

4. Identifying an investment type and amount

Based on the results of the due diligence process, VIA Fund assesses the potential investees’ financial needs and chooses a financial tool.

5. Decision making

The selected social enterprises and suggested deals are considered by the Investment Committee 3-4 times a year before making a final decision on investment.

6. Signing the contract

The VIA Fund team prepares and signs a grant/loan agreement including:

  • non-financial support plan
  • impact metrics and targets
  • reporting requirements
  • special terms on returning investments