Bridges Ventures has launched the Bridges Social Entrepreneurs Fund, which has so far raised £4.25m for investment in social enterprises

The Fund will target scalable social enterprises that deliver a high social impact and operate financially sustainable business models.  It will invest up to £1m in each sustainable social enterprise and will recycle capital into multiple projects.

The National Endowment for Science, Technology and the Arts (NESTA) made the first commitment to the fund and acted as a catalyst for private sector investment.

Sir Ronald Cohen, founding chairman of Bridges Ventures, said, “The development of social enterprises is being held back by a chronic shortage of long-term capital. The launch of the Bridges Social Entrepreneurs Fund is an important development in addressing their long-term investment needs.”

‘Equity-like Capital for Social Ventures’, a report released by Bridges Ventures in 2005, concluded that successful social enterprises could provide sustained social impact. The report also said that social enterprises needed help to attract funding.