Press Release
Asia Community Foundation and elea: A Strategic Partnership to Shape and Advance Philanthropic Impact Investing in Southeast Asia
Singapore, December 05, 2024:
The Asia Community Foundation (ACF) and elea Foundation for Ethics in Globalization join forces to support impact entrepreneurs and advance the philanthropic impact investing ecosystem in South East Asia. ACF and elea share a common belief, that social impact entrepreneurship is the primary catalyst for change and progress, addressing the needs of people affected by poverty. Therefore, they are launching the “Investing in Entrepreneurs for impact” fund.
At the core of the newly created philanthropic fund is to provide capital for the further development and expansion of the elea portfolio of impact ventures in Asia. The investment work is complemented by strategic support and hands-on collaboration through board memberships to enhance venture growth and maximize social impact.
A part of the fund is dedicated to further developing philanthropic impact investing in Asia, building on elea’s pioneering expertise since 2006, and shaping a robust ecosystem and network in the region. Therefore, ACF and elea will dedicate efforts to strengthen the pipeline and collaborate with accelerators and incubators to amplify this innovative approach to philanthropy and build a strong pipeline of impact ventures dedicated to alleviating absolute poverty in Asia.
"Impact-driven enterprises created by local entrepreneurs offer people living in absolute poverty access to jobs, markets, and value chains, and thus the prospect of a self-determined future. Through this, they promote the resilience of society as a whole which is why elea is excited to add more up-and-coming impact entrepreneurs and their innovative ventures in Asia to the elea portfolio as we advance”, says Andreas Kirchschläger, Founding Partner and CEO of elea. “Philanthropic impact investing offers a transformative approach to addressing absolute poverty, and for Asia Community Foundation, it represents a powerful way to move beyond traditional charitable giving. We are excited to partner on this fund with elea, a global leader in this field. This collaboration combines ACF’s mission to catalyse impactful funding with elea's expertise and to bring donors along on an experiential giving journey,” adds Sue Toomey, CEO of Asia Community Foundation.
Learn more about the fund here.
About elea
elea fights absolute poverty with entrepreneurial means. As an active philanthropic impact investor, elea supports impact entrepreneurs and their ventures in the post-startup and growth phase in combining long-term economic success with sustainable, measurable impact. To this end, elea provides its portfolio companies not only with capital, but also with business know-how, coaching, and access to the global elea network. As such, elea sees itself as a growing community of committed entrepreneurs and philanthropic investors. https://www.elea.org/
About Asia Community Foundation:
The Asia Community Foundation (ACF) is a Singapore-based charity established in 2023 by experienced philanthropists from the Asia Philanthropy Circle. ACF aims to promote purposeful giving by connecting donors with social impact partners to address pressing socioeconomic and environmental challenges in Asia. One of its key initiatives is launching impact funds that facilitate collaborative giving, supporting a curated portfolio of organisations tackling critical issues across the region.
Contact:
Tess Mackean
Director of Development and Engagement
Asia Community Foundation
tess.mackean@asiacf.org