The government has announced that 22 projects will receive support from the final tranche of the Life Chances Fund, which supports charities with social impact bonds.
The largest amount, £6.6m, went to Kirklees Council in Yorkshire and Humber, for a service supporting vulnerable people into independent living.
The funding also includes £4.2m to West London Zone, a charity founded by an adviser at the Department for Digital, Culture, Media and Sport, which provides early intervention services.
The charity was co-founded in 2014 by Danny Kruger, who is the government’s expert adviser on the Civil Society Strategy. Kruger resigned as a trustee of West London Zone in April, shortly after joining DCMS.
West London Zone’s latest accounts for the year to March 2017 show it had an income of £1.2m and spending of £670,000.
This is the third and final tranche of funding from the £80m Life Chances Fund. Projects are funded through a social impact bond with each one having secured upfront funding from external funders, who will only be reimbursed if the projects meet their targets.
Tracey Crouch, minister for sport and civil society, said: “We are committed to building a fairer society that works for everyone and social impact bonds are already having a transformational impact on people’s lives.”
Other successful applicants include Age Concern South Gloucestershire and Peterborough Council for Voluntary Service.
The full list is in the table below.
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