Outcome payments for these two programmes are being funded from the £15 million Fair Chance Fund, which was launched jointly by the Department for Communities and Local Government and the Cabinet Office in April 2014, to tackle youth homelessness.
Social investment intermediaries Social Finance and Triodos structured the investments and raised the required capital to fund the interventions.
Gareth Zahir-Bill, Senior Investment Manager at CAF Venturesome, said: “We are delighted to be involved in these projects helping to transform the lives of young people in desperate need across the UK.
“We have supported five high impact and innovative SIBs and the challenge now is to look at those investments as they mature to understand their impact, and compare this to what could have been achieved using more traditional models, such as providing capital directly to charities and social enterprises.
“As more SIBs are brought to the market and become easier to establish, risks must be better shared across stakeholders, including commissioners, delivery partners and investors. Only when this balance is achieved will the market reach its full potential to sustainably deliver impact.”
Want to know more about CAF Venturesome?
Talk to our team on 03000 123 300 or email us at venturesome@cafonline.org and we’ll be happy to help.