Social Finance is a not for profit organisation that partners with government, the social sector and the financial community to find better ways of tackling social problems in the UK and beyond.
Social Finance brings an investment approach to tackling social problems. We design and implement new models of prevention and link funding with delivery of social outcomes. The project Lankelly Chase funds focuses on Social Finance’s work in Social Impact Bonds (SIBs). Social Impact Bonds fund investment in prevention services and both services and funding are designed around delivery of outcomes. As such, they present an opportunity to provide support to reduce the strain on acute services.
Specifically, Social Finance has launched a SIB model aimed at reducing care entry for troubled adolescents, a group of people who have particularly poor life chances once they’ve entered the formal care system. The project aims to improve outcomes for individuals and, at the same time, ensure effective spending for public commissioners because they only pay for successful outcomes.
The SIB that Social Finance has developed funds Multi-Systemic Therapy (MST), an intensive therapeutic family support programme that equips young people and their families to engage more positively with each other and with their support networks.
The outcomes of this project could be used to increase the scale and impact that SIBs have on the sector, and Lankelly Chase’s funding is being used to support research and development, commissioner engagement and investment readiness of new SIBs.
For more information: www.socialfinance.org.uk