Epiqus Occupational Wellness I


Last updated 12 May 2020, by Impactyield.

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Epiqus Occupational Wellness I is a Social Impact Bond (SIB) that intends to improve occupational wellness and preventive occupational healthcare in Finland measured by the reduction of sick leave days for targeted municipal employees.

Epiqus has identified rapidly deteriorating support ratio as a major social challenge in Finland. Public sector productivity improvements and reductions in disability pensions are key drivers for support ratio improvements, and both correlate closely with occupational wellness as measured by sick leave days – hence, the impact target of this first SIB in Finland.

Epiqus Occupational Wellness I is a EUR 5-10m, three-year Social Impact Bond with 10% base-case IRR, implemented as a VC/PE limited partnership. Proceeds are used to buy occupational wellness and preventive occupational healthcare services from selected companies for the benefit of municipal public sector clients. Clients then pay for a reduction in the number of annual sick leave days of their staff compared to pre-intervention levels, and this income is used to repay investors.

Fund style

Not listed

Financial description

-Target Size: EUR 5-10 million (corresponding to apprx. 10,000-20,000 employees)
-Target Return: 10% net IRR (corresponding to a reduction of apprx. 2.1 sick leave days per employee per annum)
-Minimum Ticket: EUR 250k
-Anchor Status: EUR 1m (entitles to a seat on the Advisory Board)
-Term: 3 years from final closing + right of one six-month extension
-Hurdle Rate: 1% p.a.
-Management Fee: EUR 170k p.a.
-Carried Interest: 30%, subject to hurdle rate, and after service providers’ 20% margin, no catch up. Half of carry to service providers, half to the GP

8 years

of track record


the year funded

10,000,000 EUR


Asset manager



Headquarters location:

Key performance indicators

Fund overview

Asset manager: Epiqus

Product track record: Fund has 8 years of track record

Target IRR: n.a.

Committed Capital: n.a.

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:


Inception year: 2015

Vintage year: 2015

Target region: , , ,

Target close date: 01/10/2015

Product term: 3 years

Assets under management: 10,000,000 EUR (Euro)

Investment size: Min: 0; Max: 0; Avg: 0

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 1

Fund investments to date exited or repaid: 0

Management fee: n.a.

Carried interest: n.a.

Hurdle rate: n.a.

GIIN Investors' Council Investment: No

Limited Partners / Investors: Sitra (http://www.sitra.fi/en)

Limited Partner / Investor Type: Endowments/Foundations, Family Office


E-mail: jussi.nykanen@epiqus.com

Website: http://www.epiqus.com/

Phone number: 447798625329.00

If you wish to have your details removed from this database please email gdpr@impactyield.com

Impact Performance


Impact thesis

Improved occupational wellness of, and the provision of preventive occupational healthcare for, public sector employees. These impact goals are closely correlated with early retirements through disability pensions that is a major contributor to the deteriorating economic support ratio of countries with ageing population. Impact is measured by reduction in sick-leave days per employee per year compared to a baseline.

Impact Management


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