Social Impact Bonds (SIBs) are an innovative approach to financing social service programs that combines outcome-based payments and market discipline.  They are designed to raise private capital for intensive support and preventative programs which address areas of pressing social need.

SVA was instrumental in developing and implementing the first SIB in Australia, the Newpin Social Benefit Bond and is currently raising for a new SIB in South Australia, the Aspire SIB.

We continue to support the development of further opportunities in Australia and abroad. SVA has advised social service providers, Governments and the investor community on the opportunities, practical implications and processes that surround the development and implementation of SIBs and associated payment by outcome structures.

Our services include:

  • General education and capacity building
  • Advice on the feasibility of potential SIBs
  • Proposal development, including SIB modelling and outcome metric and payments design
  • Participation in SIB joint development phase alongside government and the service provider
  • Capital raising
  • Ongoing SIB management

Aspire SIB – open to wholesale investors

The Aspire SIB is Australia’s first homelessness focused SIB. The bond will raise $9m of private capital to fund an innovative program for people experiencing homelessness in Adelaide.

Aspire SIB – open to wholesale investors

SVA is currently raising $9 million of private capital to fund Hutt St Centre, a homeless service specialist, to deliver the innovative Aspire Program which supports people experiencing homelessness in Adelaide.

The Aspire Program is a housing first intensive case management program that works with participants for three years. The program is designed to build the independence and resilience of vulnerable people experiencing homelessness by addressing the complex personal and structural causes of their homelessness.

The outcomes of the program will be determined by comparing the Aspire participants’ utilisation of health, justice and emergency accommodation services with a historical benchmark. The outcomes of the program determine investor returns.

The Aspire SIB has a 7.75 year term and is targeting an 8.5% return. Read more.


Newpin Social Benefit Bond – closed to investment

Australia’s first SIB which raised $7m of private capital to fund the expansion of Uniting’s Newpin program, helping some of the most vulnerable families.

Newpin Social Benefit Bond – closed to investment

SVA raised $7 million of capital to fund Australia’s first SIB, the Newpin Social Benefit Bond (SBB), in NSW in 2013. The SBB funds the maintenance and expansion of Uniting’s Newpin Program.

The purpose of the Newpin program is to restore children in out-of-home care (OOHC) to the care of their families by creating and supporting safe family environments. It is an intensive 18 month centre based therapeutic course for families with young children aged five years or under.

Restoration of children from OOHC saves the NSW Government a significant amount and more importantly, evidence strongly suggests that being reunited with a safe family is in the long term interests of the child. The NSW Government makes outcome payments to Uniting based upon the success of the program, and Uniting in turn makes performance linked payments to the Newpin SBB investors based on restorations of children to their families. Read more.


For more information about how SVA could support your organisation with the development and implementation of a Social Impact Bond or payment by results, please contact Elyse Sainty on

To explore what SIBs exist globally, Social Finance UK have developed a useful database.