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Social Finance has been awarded a contract by Essex County Council to deliver a Social Impact Bond to provide therapeutic support and improve outcomes for adolescents at risk of going into care. Essex County Council is the first local authority to commission a Social Impact Bond in Children’s Services.

Social Finance has raised a total commitment of £3.1m to fund interventions for 11-16 year olds at the edge of care or custody so that the young people can safely remain at home with their families. The investment is provided at risk by social investors, such as cornerstone investors Big Society Capital and Bridges Ventures, whose financial return is aligned to the positive social impact of delivering a better future for vulnerable adolescents.