The funding will be used to develop a social impact bond to help young people aged 8-19 improve life chances. This includes emotional support, mentoring and skills training, to be delivered across London, the West Midlands and the North West. The aim is to address links between child poverty and poor health, unemployment, teenage pregnancy and crime. It will be commissioned by Wolverhampton County Council. The grant will fund evaluation, project management, data collection and other support.