Blended Finance Evaluation Partner

We are seeking an evaluation partner to work across our blended finance programmes to help us to assess the achievements and outcomes (both positive and unintended) of both the individual programmes, and our overall approach to blended finance. We would also hope that this partner would help us to fill some of the current gaps in the research around blended finance in the UK social investment and charitable sectors. We would also like the this partner to help us contextualise our work in terms of the wider economy, to help us understand our successes and challenges within a broader context.

Blended finance is at the core of what we do at Access and we think it is an essential tool for driving capital into the communities which need it most, and in creating a more diverse and equitable social investment sector in the UK. In order to do this we need a partner who can help us build on the evidence we and the wider sector already have about what does and doesn't work.

We are open to a variety of different evaluation approaches, and would expect those tendering to outline their proposed approach and methodology and why they believe it is appropriate. We'd also like to emphasise that we are looking for a partner that will work alongside us and really get to know how our programmes, and how Access as an organisation works, rather than simply delivering an evaluation at a distance. We imagine this may involve sitting in on internal meetings (such as our Blended Finance Investment Committee, Blended Finance Management Group etc), regular meetings with different staff members, and taking the time to truly understand our purpose and the role of blended finance within it.

Whatever evaluation approach is selected we would like it to include:

• Participatory Approaches
• The creation of a partner-led research fund
• A balance of programme insights and overall blended finance lessons
• Learning-led
• A consideration of Equity, Diversity and Inclusion

Budget and Timescales

We would expect to contract the evaluation partner on a rolling basis, with review points, and the possibility of it being extended based on performance. The initial evaluation contract is anticipated to run for four years to the end of December 2027 and the annual budget is £90,000 maximum including VAT, so £360,000 for the full duration of the initial evaluation. Please read all sections of this document for information on how to apply.

The specific nature of analysis and reporting will be agreed with the appointed evaluation partner and we welcome a broad range of approaches to answering the questions and delivering on the evaluation purpose.

We would expect all bids to include an outline of how their approach will appropriately deal with the nature of our blended finance programmes, particularly how to balance programme level insights with cross programme ones, and how their team will offer the right levels of expertise to deliver the evaluation.

Evaluation Management

The evaluation will be managed by Access, although we plan for our social investment partners to play a key role in evaluation design and delivery.

The primary audiences for the evaluation are:

• Internally for Access decision making
• Our Social Investment Intermediary partners
• The social enterprises and charities funded using blended finance
• Government, specifically the Department of Culture, Media and Sport
• Mainstream and impact investors who may participate in blended finance structures
• Foundations and other potential providers of concessional capital
• Other stakeholders currently working on, or interested in delivering blended finance programmes (other social investment wholesalers, charitable foundations, social investment funds)