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Bridges Ventures Fund III LP

United Kingdom

Last updated 12 May 2020, by Impactyield.

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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.



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

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

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:

Product status:

Style/Stage: , , , ,

Inception year: 2015

Vintage year: n.a.

Target region: , , ,

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: ,

Currency of investments:

Currency for fund / product figures:

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

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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.