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Bridges Ventures has invested £1.65 million from its Bridges Social Sector Funds into a new social impact bond (SIB).
Commissioned by Newcastle West Clinical Commissioning Group, the SIB will fund the ‘Ways to wellness’ programme.
This programme is designed to help over 11,000 people in the Newcastle-upon-Tyne region with long-term health conditions, such as diabetes and asthma, through non-medical interventions.
Four organisations that were chosen through a procurement process – Changing Lives, First Contact Clinical, HealthWORKS Newcastle and Mental Health Concern – will deliver the programme’s services.
The Big Lottery Fund, the Cabinet Office and VONNE have also provided funding for the SIB.
Anthony Ross, partner and head of social sector funds at Bridges Ventures, said: “This pioneering SIB is the result of an unprecedented collaboration between local GPs, the Newcastle West CCG and the local voluntary sector. We are delighted to be providing support alongside VONNE, the Big Lottery Fund and the Cabinet Office, and we’re very excited about the potentially powerful impact it could have on the health outcomes of people with long-term conditions in the local area.”

Bridges Ventures has two social sector funds; the Social Entrepreneurs Fund and the Social Impact Bond Fund. The fund manager closed the Social Impact Bond Fund at £25 million in September 2014.

In Nederland werkt Society Impact in samenwerking met de Nationale DenkTank, VitaValley aan de realisatie van HIB’s. Hierbij zijn onder andere het ministerie van VWS, pensioenfonds PGGM en verzekeraars aangesloten.