Social Impact Bonds: The Early Years

On July 5th, 2016, the Social Finance global network launched its first white paper on the state of the Social Impact Bond/Pay for Success market. The paper looks back to the launch of the first Social Impact Bond in Peterborough in 2010 to chart the growth of this emerging global movement. Results from the early projects confirm the value of using this innovative financing mechanism to deliver better outcomes for vulnerable individuals.

Read the report

Read our press release

Visit the Social Impact Bond database

Key highlights of the report:

  • 60 projects launched in 15 countries

  • Over $200m raised in investment

  • 90,000 people reached through the programs

  • 22 projects have reported performance data

  • 21 projects indicate positive social outcomes

  • 12 projects have made outcome payments, either to investors or to be recycled into service delivery

  • 4 projects have completed and fully repaid investor capital

The paper takes a step back to reflect on where this market started and to assess the impact and reach that Social Impact Bonds have had across the globe. It discusses the shared lessons from the three Social Finance organizations in the United Kingdom, Israel, and the United States—which, together, represent the largest pool of Social Impact Bond expertise globally.

Alongside the paper, we launched the most comprehensive online database of Social Impact Bonds to date. The online directory can be sorted by country, issue area, investor, payor or service provider, giving a complete overview of live and proposed programs worldwide.