It is reported that combined assets among high net worth individuals in the Southeast Asia region total $10 trillion. Avantage Ventures, a social investment and advisory company in Hong Kong and Beijing, estimates that if one percent of all investments with Asian interests were dedicated to impact investing, it would be enough to support the funding needs of social enterprises in Asia.
For a region where millions lack essential access to education, clean water, and other essential services, the need to mobilize capital is urgent. Given this scenario, The Rockefeller Foundation announced that it has set up the Impact Economy Innovations Fund (IEIF) for Southeast Asia.
This isn’t the first time The Rockefeller Foundation created such fund. Earlier this year, they teamed up with Dasra and Omidyar Network to launch the India Impact Economy Innovations Fund.
But the idea is similar. The Rockefeller Foundation is looking to aid the development of the impact investing industry and social enterprise sector, and in turn accelerate market driven solutions for advancing social and charitable goals. Up until May 3rd of this year, public or private sector organizations can apply for a grant worth up to $100,000 to support their initiatives.
This specific IEIF is worth $400,000 and will seek to support 3 to 4 proposals.
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