UK Quango fund invests in 2 SIBs while the UK will push all forms of social investment at the heart of their agenda as Chairs of the G8 during 2015. Upbeat stories to end the week, have a good weekend:
The Charities Aid Foundation’s social investment arm, CAF Venturesome, has invested in two Social Impact Bonds (SIBs) to help young people in the UK out of homelessness, it was announced today.
CAF Venturesome will put up to £375,000 into Aspire Gloucester and Fair Chance Rewriting Futures, which will work to help young people who are not in education, employment or training to turn their lives around.
CAF Venturesome is providing up-front funding for the projects, which will be carried out by three expert youth homelessness charities CCP, P3, and St. Basils.
The projects aim to move 450 young people in need into employment, education or training over a three-year period, working in Birmingham, Solihull, Walsall, Coventry and Gloucestershire.
Social Investment Will Be At The Centre Of UK’s G8 Agenda, Says Wilson
Emily Corfe – Civil Society
Social investment will be at the “heart” of the government’s agenda when world leaders meet for the G8 forum later in 2015, Rob Wilson said this week.
The minister for civil society was speaking at a Social Finance UK conference on the future of social investment and public services on Tuesday. He said the UK has the “most developed social investment market in the world and we need to be using it”.
Among measures put in place by the government to encourage the growth of social investment is a new social investment foundation named Access – the Foundation for Social Investment.
The Foundation was announced last month with the aim of helping smaller and newer voluntary organisations, charities and social enterprises to access finance.
It was created by the Big Society Trust, working in collaboration with Cabinet Office, Big Lottery Fund and Big Society Capital, and will launch early this year.