First, and only, fund of its type, the Bridges Social Impact Bond Fund provides investment and support to charities and social enterprises to deliver programmes designed to improve social outcomes in areas such as education, employment, housing and care for vulnerable young people. These contracts can facilitate the funding of early-stage, preventive interventions which are more effective and cost-efficient than treating social issues after they have arisen.
The payment-by-results (PbR) sector, where public sector commissioners commit to a Social Impact Bond which pays for improvement in social outcomes, is developing fast. Social investors can provide the required up-front funding for new interventions and services delivered by charities and social enterprises, knowing their returns will only be made if the intervention achieves specific improved social outcomes. Examples of such programmes are: working with vulnerable children to improve educational attainment, and providing family therapy to avoid vulnerable adolescents being taken into local authority care.
The £14 million fund was launched in April 2013 with Big Society Capital as cornerstone investor, alongside Omidyar Network and Panaphur. The fund has a co-investment agreement with the Bridges Social Entrepreneurs Fund.
For more information and how to apply please click here.
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