Bridges Ventures launches £14m social impact fund

The vehicle is part of the £56m investment commitments announced by Big Society Capital upon its launch last year.

The fund intends to capitalise on the government's increasing focus on payment-by-results commissioning within the social sector, which has brought on the development of instruments such as social impact bonds.

Bridges has raised six funds since its launch in 2002, totalling almost £300m.

Investments
The vehicle will back charities and social enterprises that improve social outcomes in areas such as education, employment, housing and care for vulnerable young people.

Investors
Big Society Capital is a cornerstone investor in the fund. Further capital has been committed by: the Bridges Social Entrepreneurs Fund, which launched in 2008 and holds around £12m; the Omidyar Network, the investment firm founded by Ebay founder Pierre Omidyar; and Panahpur, the social investment firm of the eponymous UK foundation.

People
Anthony Ross is a partner and head of social sector funds at Bridges. Nick O'Donohoe is CEO of Big Society Capital.

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• Topics
• UK / Ireland
• Funds
• United Kingdom
• Bridges Ventures