The Bridges Social Entrepreneurs Fund, a charitable trust set up by Bridges Ventures, has raised £4.25 million to create a new venture philanthropy fund for social enterprises. Sir Ronald Cohen, chair of Bridges Ventures and founder of private equity group Apax Partners, told the UK’s Financial Times: ‘We are going into a very serious recession and a lot of people are going to be hurt. I think the social sector has a big role to play alongside government.’