Resolve Social Benefit Bond (Resolve SBB) - Closed
Social Ventures Australia (SVA) has partnered with mental health services provider Flourish Australia and the NSW Government to launch the Resolve Social Benefit Bond (Resolve SBB), Australia’s first social impact bond (SIB) to address the social issue of mental health.
The Resolve SBB aims to generate a competitive financial return for investors while improving the lives of people suffering mental health issues in NSW. Investors will fund the working capital of the Resolve Program, a recovery-orientated community support program which combines a residential service for periodic crisis care; integrated psychosocial, medical and mental health support; and a warm line for after-hours support from peers.
Commenting on the launch, the Honourable Tanya Davies, NSW Minister for Mental Health, said: "The New South Wales Government is delighted to launch Australia’s first social impact investment for mental health care. The innovative Resolve Social Benefit Bond will help improve the health and wellbeing of people experiencing mental health illness by better supporting them in the community."
She added: "By partnering with an established mental health service provider, Flourish Australia, the NSW Government will be supporting a community based, recovery focused and peer led service for people with mental health conditions."
The Resolve Program aims to deliver a target return for investors of approximately 7.5% per annum.
Note: On June 5, SVA announced that capital raising for the Resolve SBB had closed just a few weeks after launching. Investors in the Resolve SBB range from high net worth individuals and foundations, through to institutional investors such as NGS Super and Grosvenor Pirie Super.