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Bridges Ventures Fund III LP
United Kingdom
Last updated 12 May 2020, by Impactyield.
Fund geography
Developed countries (203) / More developed regions (202) / Western Europe (43) / United Kingdom of Great Britain and Northern Ireland (12)
Bridges Ventures is specialist fund manager, dedicated exclusively to using an impact-driven investment approach to create superior returns for both investors and society at-large.
Founded 2002 years ago, Bridges believes that market forces and entrepreneurship can be harnessed to do well by doing good.
Bridges is majority owned by its management team with the Bridges Charitable Trust having a 30% interest and control over any change to the firms’ founding commitment to raise only funds with social goals; while the Bridges team also donates 10% of their own profits to the Trust’s philanthropic activities.
The firm has around $470m assets under management across three main types of funds: Sustainable Growth Funds, Property Funds and Social Sector Funds.
The Bridges Ventures Fund III, our third Sustainable Growth Fund, focuses on 4 key investment themes: Underserved Areas; Environment; Education & Skills; and Health & Wellbeing. These are all sectors in which we believe underlying social or environmental problems create an imperative for change and therefore attractive growth opportunities exist for entrepreneurial businesses which can find innovative solutions.
Asset class
Fund status
Fund style
Financial description
With proven expertise in the SME space, we believe SMEs are important engines of growth. These businesses often sit below the radar of mid-market investors and therefore face a limited supply of capital. We believe these drivers combine to create strong opportunities for investment and limited competition
We have developed a thematic focus on sectors where a pressing social or environmental need creates strong pockets of growth and the potential for robust returns and positive impacts.
We have attracted a high-calibre team, Board and Advisory Board who are motivated to use their operational and financial expertise to deliver superior returns for investors and society-at-large.
Demonstrated by our track record, our distinctive Responsible Investing+ approach of selecting businesses because of their potential impact and then engaging with them to drive both value and impact should prove attractive to private equity investors.
9 years
of track record
2015
the year funded
125,000,000 GBP
AUM
Interested in this fund?
Log in or create an account to request more information.
Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
Bridges Ventures
Headquarters location: United Kingdom
Other funds managed by this asset manager: Bridges Property Alternatives Fund IIIBridges Ventures U.S. Sustainable Growth Fund
SDG goals
SDG targets
Equal rights to ownership basic services technology and economic resources
Encourage companies to adopt sustainable practices and sustainability reporting
Reduce maternal mortality
Expand and upgrade energy services for developing countries
Full employment and decent work with equal pay
Impact Category
Themes impacted
Access to Basic ServicesAccess to Quality EducationAffordable Quality HousingCommunity DevelopmentDigital AccessEducationEmploymentIndependent MediaInformation Communication & ConnectivityLabor & EmploymentReal EstateResponsible TechnologyResponsible TechnologyTransportationTransportation Access
Key performance indicators
Fund overview
Asset manager: Bridges Ventures
Product track record: Fund has 9 years of track record
Target IRR: 15%
Committed Capital: 73,150,000 GBP (Pound Sterling)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United Kingdom
Product status: Closed - still investing
Style/Stage: Buy Out, Early Stage, Growth Stage, Late Stage, Seed Stage
Inception year: 2015
Vintage year: n.a.
Target region: Developed countries, More developed regions, United Kingdom of Great Britain and Northern Ireland, Western Europe
Target close date: 01/09/2013
Product term: 10 years +2x 1-year ext
Assets under management: 125,000,000 GBP (Pound Sterling)
Investment size: Min: 2,000,000; Max: 10,000,000; Avg: 5,000,000
Co-investment policy: LPs have priority, With LPs and non-LPs
Currency of investments: GBP (Pound Sterling)
Currency for fund / product figures: GBP (Pound Sterling)
Fund investments to date: 6
Fund investments to date exited or repaid: 0
Management fee: 2.5%
Carried interest: 20%
Hurdle rate: 1.2x MM%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors
Contact
E-mail: n.a.
Website: http://www.bridgesventures.com
Phone number: +44 (0)20 3780 8000
If you wish to have your details removed from this database please email gdpr@impactyield.com
Maggie Loo
Business Development Manager
Michele Giddens
Partner/Co-Founder
Philip Newborough
Managing Partner/Co-Founder
Impact Performance
n.a.
Impact thesis
We take a Thematic approach, focusing on investments that create impact in one of 4 key ‘outcome’ areas: Environment, Underserved Areas, Health & Well-being and Education & Skills. Within each theme, we look for investments that are going to ‘move the needle’ on our target outcomes. We have found that companies which do this also have a significant pocket of growth to exploit. For example, in Education and Health, we are particularly focused on business models that improve product quality or lower product cost for the population at-large. In Underserved Areas, we are interested not only in businesses that will create jobs and economic growth where it is most needed, but also in businesses whose products cater to underserved consumer groups. During due diligence, we analyse the thematic outcome of the business and the target beneficiary group, whether the investment will create impact (additionality, relative to what would have happened otherwise) and whether the impact and financial viability of the investment will go hand-in-hand.
Impact Management
n.a.
Financial benchmark
Others
Term Description:
Keywords
Community Investing/LocalEducation & skillsenvironmenthealthOtherWell-being