Social Impact Bonds and Pay-for-Success projects are gaining recognition around the world for tackling complex social challenges such as poverty, crime, education, health, and workforce success. Rooted in innovative public-private-nonprofit partnerships, these transactions leverage philanthropic and investment capital to measurably improve the lives of vulnerable populations, and reflect a deep commitment to driving social progress through market-based approaches.
As Asia readies itself to adopt this model, AVPN has brought in two experts from the US and Australia to discuss their experience in structuring and executing social innovation financing instruments in their respective countries.
In the follow-up session, Ian Learmonth, Executive Director of Impact Investing at Social Ventures Australia, shared with us on his experience in launching the first ever “Social Benefits Bonds” in Australia. As the latter adopter in the game, Ian also explained the investment structure and use the SBB with UnitingCare as a case study to go more in-depth into the “hows” of structuring the bond, and will answer your queries on the obstacles and problems in bringing the project to fruition.
Ian joined Social Ventures Australia (SVA) in 2011 and led the establishment of SVA’s Social Impact Fund which has over $8.8m to be invested in Australian social enterprises. Ian is also leading SVA’s work on the NSW Social Benefit Bonds in the areas of recidivism and out of home care. SVA launched Australia’s first SBB last year with UnitingCare. Formerly an Executive Director of Macquarie Group for over 12 years, Ian has over 20 years of investment banking experience in Sydney, Hong Kong and London establishing and leading numerous businesses including direct investment (most recently in carbon credits and renewable energy assets including windfarms and solar projects as well as providing corporate advice to the Australian infrastructure sector. Ian has degrees in Law and Commerce and is a director of Sydney’s Belvoir Theatre, South Australian windfarm company Waterloo Wind and e-waste recycler PGM Refiners.
Attached is the webinar recording:
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AVPN Social Impact Bonds Webinar with Social Ventures Australia