Temasek Trust's Chief Executive Officer, Mr Kwok Mu Choi, said Co-Axis will help early-stage impact innovators survive and thrive by unlocking venture capital, blending capital financing, and harnessing the power of the community. (Photo by Xie Zhiyang)
Temasek Trust has partnered with three initiatives to promote impact investing and build an impact investment ecosystem.
One of these is Co-Axis, a global catalyst funding marketplace that connects investors and impact development projects to promote impact investing and accelerate innovation.
The platform has more than 70 impact investment projects from more than 40 countries, including social enterprises, impact start-ups, non-profit institutions, research institutes and enterprises, covering climate, employment, healthcare, education and other fields, with more to come.
Temasek Trust announced the official launch of Co-Axis at the Asia Philanthropy Summit on Monday (15 April).
"Co-Axis will help early-stage impact innovators survive and thrive by unlocking venture capital, blending capital and harnessing the power of the community," said Kwok Muchoi, Chief Executive Officer of Temasek Trust. ”
Connecting investors and impact projects
The goal of the platform is to connect family offices, corporations, philanthropists, high-net-worth individuals and private foundations, as well as impact investment projects, to unlock venture capital, and leverage the power of the community to scale and accelerate impact innovation to address global sustainability challenges.
With less than 25% of the world's AUM allocated to Asia last year's US$1 trillion (S$1.35 trillion) global impact investment market, Asia faces significant climate challenges, accounting for more than 60% of the world's population and more than 50% of global carbon emissions, according to the foundation's statement. Without action, Asia's GDP could fall by 26.5 percent by 2048.
The projects of the Co-Axis platform focus on advancing the UN's Sustainable Development Goals (SDGs) such as climate action, decent employment and economic growth, reduced inequality and responsible consumption.
One of them is a project in Indonesia by Germany company Fairventures Social Forestry, which will support 50,000 smallholder farmers to become climate resilient by 2035. PescaData, another seed impact start-up, aims to connect 300,000 smallholder fishers in Latin America and provide them with operational tools to help measure the contribution of all stakeholders to the sustainability goals.
DBS Bank Foundation and UBS Philanthropy Foundation are strategic partners of the platform, with 13 industry partners participating, including the Singapore non-profit Impact Investment and Practice Centre, the Global Impact Investing Network, the Asia Stewardship Institute, and the Asia Charity Alliance.
The Asia Charity Alliance will provide 40 million yuan in financing
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