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.