More from New South Wales, Australia and a presentation on the general social impact investment movement from the British VCA conference last year:
Social Benefit Bonds Pioneered In NSW
Marie Sansom – Government News
NSW is pioneering a SIB trail, launched in September 2011 involving two NSW organisations: UnitingCare Burnside and the Benevolent Society.
UnitingCare’s Newpin bond funded intensive support to families at risk to prevent children from entering care (where safe to do so) and returning some children in care to their families.
In its first year, Newpin restored 28 children in out-of-home-care to their families – a 60 per cent success rate – and prevented ten children in at-risk families from entering care. Investors received a 7.5 per cent return on their investment. When Social Ventures Australia marketed the bond it was fully subscribed and closed earlier than expected.
The Benevolent Society’s Resilient Families project raised $10 million from social benefit bonds as part of a consortium with Westpac and the Commonwealth Bank. This project will work with 400 families over five years for up to nine months addressing problems like domestic violence, substance misuse, poor mental health, unstable housing, debt and family relationships.
Next Steps For Social Impact Investment – Michele Giddens At The BVCA Summit 2014
Bridges Ventures
In 2014, Michele Giddens, partner and co-founder of Bridges Ventures, gave the keynote speech at the BVCA Summit, the largest annual gathering of the UK private equity industry.
In her talk, Michele highlights the growth of the impact investment sector, discussing how impact is becoming both an imperative for businesses and consumers, and an opportunity for investors.
Watch the video of Michele’s speech.