Depaul UK (Fair Chance Fund)

Mission: To end homelessness and change the lives of those affected by it.

Where they work: UK

Our partnership:  We invested in a Social Impact Bond to fund the delivery costs of Depaul UK under the Fair Chance Fund (2014-2018).

Thousands of young adults (18-24 yr olds) in England experience homelessness every year. Whilst many receive support through existing services, there is a group of homeless young adults ‘falling through the cracks’ due to previous difficulties, such as eviction, violence and substance misuse. The Fair Chance Fund was set up by the UK’s Department for Communities and Local Government (DCLG), in order to help address this gap in services. One of the contracted service providers under the fund was Depaul, a charity which works with homeless young people in the UK to secure stable accommodation, education qualifications and eventually employment. Our funding was used to cover Depaul’s upfront delivery costs in Manchester and Greenwich, and we were successfully repaid by DCLG when Depaul achieved its impact targets for the young people in its cohort.

Find out more about Depaul’s work on their website.