This report has been prepared by the MaRS Centre for Impact Investing and the Housing Services Corporation (HSC) as one component of a research and education project. It has been commissioned by a group of supportive housing providers in Canada who have a focus on mental health and concurrent disorders. The objective of the project is to provide a clear pathway for supportive housing providers to learn about and engage in alternative methods of financing, sometimes called social finance, for improving and developing new dedicated housing units in Canada. This paper supports the exploration of innovative financing opportunities available to supportive housing providers and providers of mental health services in Canada. This report identifies and outlines a number of social finance models. It also identifies principles for an effective social finance strategy for the supportive housing sector and challenges to further adoption of impact investing. Finally, it recommends actions to increase the supply of supportive housing through the use of social finance strategies.