Payment-by-Results (PbR) schemes can be boosted by five key actions, leading social investors Big Society Capital and Bridges Ventures (Bridges) have told Minister for Government Policy, Oliver Letwin.
The last year has seen rapid progress in the adoption of Payment-by-Results (PbR) programmes in the UK. The social sector is playing its part - at least ten new PbR schemes have come on-stream during 2012 that will be delivered by charities and social enterprises, and which are backed financially by social investors.
- Bridges Ventures (Bridges) and Big Society Capital today announced they are lead investors in a new Social Impact Bond (SIB) commissioned by Essex County Council and developed by Social Finance, to fund an intensive intervention programme to help vulnerable young people at risk of going into care
Today marked the official launch of Big Society Capital (BSC), the UK social investment fund aiming at channelling fresh money into the social enterprise sector, and achieving positive societal impact.
Big Society Capital today announces the appointment of Sir Richard Lambert as Chair of the Big Society Trust, which will oversee Big Society Capital’s activities so as to ensure that it stays true to its mission.
Big Society Capital formerly referred to as the “Big Society Bank”, today announces its launch with three entities: Big Society Capital Limited (BSC), the operating company of the group; The Big Society Trust (BST), responsible for ensuring the group stays true to its mission; and The Big Society Foundation, a charity able to receive philanthropic donations to support the investment readiness of social organisations.