Bridges Ventures looks set to manage a new £10m fund to help charities win government payment-by-results contracts.

Big Society Capital, which has invested £10m into the fund , is working with Bridges Ventures on its development.

Nick O’Donohoe, chief executive of Big Society Capital, said last week that he anticipated that Bridges Ventures would manage the fund. He made the comment at an event where government ministers and Big Society Capital stakeholders briefed financial investors on the social investment market.

O’Donohoe told the audience that the fund will help kick-start the development of outcome finance as an investable opportunity and said there was room for co-investing alongside Big Society Capital.