Investments made by Bridges Fund in UK's Alina Homecare
In a significant move, Bridges Fund Management has announced an investment in Alina Homecare, a UK care provider for vulnerable elderly people. This marks the first new investment by the Bridges Inclusive Growth fund.
James Deeley, the CEO of Alina Homecare, leads the company, which is supported by Bridges Inclusive Growth. The investment in Alina Homecare is set to scale nationally, making it Bridges Fund Management's sole investment in the private homecare market.
The investment comes at a time when demand for high-quality care at home is expected to increase strongly in the UK. The ageing population, a rise in chronic health conditions, and a strained social care system are contributing factors to this growing demand. According to forecasts, the number of people aged 85 and over in the UK is set to almost double to 3.3 million by 2047.
Bridges Fund Management has launched an inclusive growth strategy focusing on businesses delivering positive outcomes for vulnerable people in the UK. The health and social care sector will continue to be a major focus for this strategy.
Alina Homecare delivered 1.1 million hours of care to over 1,300 people across the south of England last year. The company prides itself on employing all of its workers directly, a move it says has contributed to a motivated workforce and high ratings from the Care Quality Commission.
Meanwhile, Bridges Fund Management has also partnered with Clarmondial and Supernova to boost nature-based investments. This collaboration is focused on investments in Indonesia.
On another note, Symbiotics has committed $5m to a Ghanaian agritech company, marking an investment in the category of funds and investment. The investment category for the Ghanaian company is agri-food.
Adenia has also launched a new entrepreneurial fund, with the new fund focusing on investments. The collaboration between Clarmondial and Supernova is aimed at boosting nature-based investments.
Emma Thorne, partner and head of Bridges Inclusive Growth, stated that the fund aims to invest between £5m and £20m into growing businesses delivering positive social outcomes.
Lastly, Adenia has also launched a new private equity and startup/scale-up fund. These developments underscore the growing trend of impact investing, where investments are made with the intention of generating a positive social and environmental impact alongside a financial return.
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