launch of mcm social impact investment

Social Impact Bonds, Education, Mental Health, Impact Investment 
Australia's first education & mental health social impact bond launched today 

Melbourne City Mission has signed Victoria's third Social Impact Bond focusing on young people disengaged from school.

Latitude Network congratulates Melbourne City Mission (MCM) on the announcement of its Partnership Addressing Disadvantage (PAD) contract with the Victorian State Government known as the ‘Living Learning’ program. 
 
Latitude Network supported MCM in its initial PAD application and throughout the negotiation with Government, providing advice and technical assistance across service design, financial model, negotiation and data use. We are now working with MCM to develop a live data and performance system set up to help them achieve their outcomes targets.
 
‘Living Learning’ is a new, targeted program which addresses barriers for young people who are disengaged from school and living with mental illness. MCM developed the program using its expertise in re-engaging with, and supporting, young people through their independent school, the Hester Hornbrook Academy. 
 
As lead advisors to MCM throughout the journey, we are excited to see the program announced and young people able to start entering the program from today.
 
Latitude Network was also pleased to work with leading Australian social finance experts, Sefa, who provided advice on blended capital structuring options, targeting foundation investors using their corpus and granting arm.

Innovative financing structure: Watch this space

We can’t yet share the details of the innovative financial structure behind Living Learning. Sign up to our newsletter so we can let you know those details as soon as they are available. 
 
At a future date we will also be running a Webinar with Sefa in collaboration with Pro Bono News to talk through the details of the investment structure. Keep an eye out for the invitation.

Key elements of the program

Key program elements include - 

• ​144 participants aged 15 to 21 across Melbourne;
• Three-year program through MCM's independent school, the Hester Hornbrook Academy which has specialised campuses across Melbourne;
• Education and support for young people who are disengaged from employment, education and training and who have a mental health condition; and
• Part of the State Government's Partnerships Addressing Disadvantage social impact investment program.

​See the Victorian Government's Press Release here.