Triodos Bank has raised £1.5m through a social impact bond for a three-year scheme to help young people find employment.

The scheme, called the Triodos New Horizons programme, is being run by youth service provider Greater Merseyside Connexions Partnership (GMCP) which aims to support 4,000 young people, many of whom are young offenders, have learning disabilities, or are in or leaving care.

A number of social investors have invested in the scheme, including Big Society Capital, Bridges Social Entrepreneurs Fund, CAF Venturesome and the First Arc Group, who will receive a return from the Department for Work and Pensions if the scheme meets agreed educational, training and employment targets.

On behalf of investors, Triodos will retain a role in the performance management of the three-year scheme.

Dan Hird, head of corporate finance at Triodos Bank, commented: “Triodos is pleased to have successfully structured this deal which creates a unique partnership between private sector investors and a longstanding social delivery organisation in GMCP.

"Our role included investor readiness advice for GMCP and the development and placement of a social impact bond which is capable of providing an attractive blended financial and social return to investors.”

There are number of social impact bond projects across the UK. See the map below for more details.