Bridges Ventures

A pioneering UK contact centre business, that aims to create approximately 10,000 jobs for the unemployed, is being backed by over £1 million of new investment.  

The Bridges Ventures’ ‘Social Entrepreneurs Fund’ has committed to invest £500k into Call Britannia and Big Issue Invest has committed to invest £350k.

A further £292,500 has been awarded by the government’s Future Jobs Fund and a further £150k of the investment will come from the management team headed by social entrepreneur and Call Britannia’s founder Karen Darby. 

It is the first investment by the Bridges Social Entrepreneurs Fund and the first time that Bridges Ventures and Big Issue Invest have come together to back a venture.

Call Britannia is an outsource customer contact centre with a difference. Basing itself in some of the UK’s most economically-challenged areas, Call Britannia will provide sustainable employment for the long-term unemployed, as well as a high-quality service to customers.

The company aims to open ten contact centres across the UK over the next seven years, giving 10,000 staff a minimum of six months’ employment, and equipping them with the skills, accredited training, support and work experience they will need to provide clients with a first class service. Following this ‘incubation period’ Call Britannia will work with its ‘graduates’ to help them find work using their new skills and experience. 

Organisations in both the private and public sector will be encouraged to sub-contract work from their contact centres to Call Britannia. As well as the measurable benefits from such an approach, partner organisations will also have the opportunity to recruit trained and skilled Call Britannia ‘graduates’ at no cost.

Both Bridges Ventures and Big Issue Invest have invested in Call Britannia because of the social benefits it aims to create alongside financial returns.  Through their funds, the two organisations are aiming to attract more investment into socially-driven organisations for the benefit of society.

Antony Ross, Director at Bridges Ventures said:

"Call Britannia’s strong management team, clear social purpose and sustainable business model make the company an exciting first investment for our Bridges Social Entrepreneurs Fund. We look forward to working closely with the Call Britannia team to successfully develop and grow the business.”

Ed Siegel, Director of Investments at Big Issue Invest said:

 “Call Britannia provides the long-term unemployed with an opportunity to break the cycle of welfare dependency by providing a stepping stone into long-term employment.  We are confident that the company will be equally committed to the making of social returns as well as financial ones.  This is an absolute requirement of Big Issue Invest, and the investment agreements include a newly-designed incentive scheme for Call Britannia owner-managers which is triggered only after both financial as well as strict social performance targets are met.”

Jim Knight, Minister for Employment and Welfare Reform said:

"The Government has invested £1 billion into the Future Jobs Fund to get young people and those in areas of high unemployment into work. I am delighted that Call Britannia is using this fund to help create some 10,000 new jobs across the country. The new jobs will be based in unemployment hotspots across the UK and will enable young people and the long-term unemployed to get experience that will really boost their long-term employment prospects, details on how to apply are available through any local Jobcentre Plus."

Karen Darby of Call Britannia said:

"I am delighted to be working with Bridges Ventures again and very grateful for the generous support from Big Issue Invest and the Future Jobs Fund. This deal will allow us to launch the first Call Britannia contact centre and we can’t wait to get started. We want to create a contact centre business with a conscience and believe we can be highly successful commercially, whilst delivering a huge benefit to the local community and the individuals who work for us. “

Media Enquiries:

Call Britannia – Cath Roan, Roan Media, 0208 333 5870, 07801 817 451, cath@roanmedia.co.uk 

Bridges Ventures – Tom Hampson-Bellon, Antonia Coad, HB Communications, 020 7637 2780, t.hampson-bellon@hbcomms.com, a.coad@hbcomms.com

Big Issue Invest – Sarah Forster, 01225 312717, 0771 423 4823, sarah@bigissueinvest.co.uk

Notes to Editors:

Call Britannia
Karen Darby was the founder of SimplySwitch, a price comparison service that was funded by Bridges Ventures, and sold to the Daily Mail and General Trust for £22 Million in 2006.

The Call Britannia Foundation will be established in the first year, funded by a percentage of revenue from Call Britannia commercial work, to give employees support with a number of things that can create barriers to long term sustainable employment, from purchasing suitable work clothing, childcare costs, travel costs, moving from weekly to monthly income and further education and training.

Companies interested in finding out more should visit www.callbritannia.com

Bridges Ventures
Bridges Ventures is an investment company whose commercial expertise is used to deliver both financial returns and social and environmental benefits.  Bridges Ventures’ key backers include Sir Ronald Cohen, co-founder and former chairman of Apax Partners, 3i and Doughty Hanson.

Three funds have been raised to date: Venture Funds I & II and the Bridges Social Entrepreneurs Fund.

Launched in August 2009, the Bridges Social Entrepreneurs Fund is an innovative financing solution that is tailored to the needs of ambitious social enterprises. The fund has so far raised £8.5m from The Office of the Third Sector, which is part of the Cabinet Office, NESTA, Sir Ronald Cohen, Nigel Doughty, Harvey McGrath, Apax Foundation, The Generation Foundation, Lehman Foundation, Deutsche Bank and the Esmée Fairbairn Foundation. The Bridges Ventures team have also allocated funds from their profit share.

The fund invests in the form of equity-like capital, which shares in the risks but also the returns of social enterprises.  Investments are coupled with hands-on advice and support to help the social enterprises realise their potential. 

For more information please go to www.bridgesventures.com

Big Issue Invest
Big Issue Invest, part of The Big Issue group of companies, is a specialist provider of finance to social enterprises. It is led by social entrepreneurs and staffed by social financiers who want to add their experience and passion to our mission of dismantling poverty.  BII finances social enterprises throughout the UK, including the trading arms of charities, non-profit distributing firms and, on an exceptional basis, socially driven, for-profit businesses.

For more information about Big Issue Invest visit www.bigissueinvest.com