Singapore Temasek Trust, DBS Foundation & UBS Optimus Foundation Formed Strategic Partnership to Launch Philanthropic Capital Marketplace Co-Axis to Connect Funders to Businesses & Projects with Impact Potential, Impact Opportunities Include Social Enterprises, Impact Ventures, Non-Profit Organizations, Research & Corporates, Funders Include Family Offices, Corporate Entities, Philanthropists, High Net Worth Individuals, And Private Foundations
17th April 2024 | Hong Kong
Singapore Temasek Trust, DBS Foundation & UBS Optimus Foundation have formed a strategic partnership to launch philanthropic capital marketplace Co-Axis to connect funders to businesses & projects with impact potential. Impact opportunities include social enterprises, impact ventures, non-profit organizations, research & corporates, and funders include family offices, corporate entities, philanthropists, high net worth individuals, and private foundations. On DBS Foundation: “As a Strategic Partner, DBS Foundation contributes to the platform’s pipeline of projects by tapping its network of innovative, high-potential businesses for impact – such as reach52 – and blended finance projects. It also helps drive interest from its network and bring in holistic capabilities towards the development of this platform.” On UBS Optimus Foundation: “UBS Optimus Foundation is also coming onboard Co-Axis as a Strategic Partner. It will leverage its 25 years of impact expertise, frameworks and thought leadership to bolster Co-Axis’ platform, and make available Donor Advised Fund (DAF) services to ensure efficient and seamless funding through the platform.”
“ Singapore Temasek Trust, DBS Foundation & UBS Optimus Foundation Formed Strategic Partnership to Launch Philanthropic Capital Marketplace Co-Axis to Connect Funders to Businesses & Projects with Impact Potential, Impact Opportunities Include Social Enterprises, Impact Ventures, Non-Profit Organizations, Research & Corporates, Funders Include Family Offices, Corporate Entities, Philanthropists, High Net Worth Individuals, And Private Foundations “
Desmond Kuek, CEO, Temasek Trust: “By unlocking risk capital and blending financing across the capital spectrum, and harnessing the power of community, Co-Axis will help early-stage impact innovators survive and thrive. Temasek Trust is thrilled to join forces with DBS Foundation, UBS Optimus Foundation, and our many other like-minded partners on Co-Axis. We invite others to join us – whether as a funder, founder, knowledge, or community partner – to drive positive impact at speed and at scale.”
Karen Ngui, Board Member of DBS Foundation and Group Head of Strategic Marketing and Communications, DBS Bank: “Purpose-driven businesses play an increasingly essential role in society, especially as the world grapples with pressing social and environmental issues. Since 2014, when the DBS Foundation was set up, we have supported many of these businesses and witnessed the positive impact they create on lives and livelihoods. It is our hope that platforms like Co-Axis can further galvanise and grow this ecosystem, and engender greater support towards these meaningful businesses.”
Sheryl Fofaria, Head of Social Impact and Philanthropy, Southeast Asia, UBS: “We are delighted to be a strategic partner to Co-Axis, given our shared passion and commitment to develop innovative ways of connecting people and capital for impact across Asia and beyond.”
Singapore Temasek Trust, DBS Foundation & UBS Optimus Foundation Formed Strategic Partnership to Launch Philanthropic Capital Marketplace Co-Axis to Connect Funders to Businesses & Projects with Impact Potential, Impact Opportunities Include Social Enterprises, Impact Ventures, Non-Profit Organizations, Research & Corporates, Funders Include Family Offices, Corporate Entities, Philanthropists, High Net Worth Individuals, And Private Foundations
15th April 2024 – Temasek Trust, DBS Foundation, and UBS Optimus Foundation today announced their strategic partnership to build Co-Axis, the first digital catalytic capital marketplace, and unveiled its first phase at the Philanthropy Asia Summit in Singapore. Co-Axis aims to unlock risk capital and harness the power of community to scale and speed up impact innovations tackling the world’s greatest sustainability challenges.
- Co-Axis connects funders such as family offices, corporate entities, philanthropists, high net worth individuals, and private foundations with early-stage businesses, charitable organisations, and blended finance projects with strong impact potential. Impact opportunities featured on the platform span social enterprises, impact ventures, non-profit organisations, research, and corporates. A range of financial instruments with a philanthropic focus are available on the platform[1] – any returns will be redeployed into future impact opportunities, amplifying the impact of the initial contribution.
- As a Strategic Partner, DBS Foundation contributes to the platform’s pipeline of projects by tapping its network of innovative, high-potential businesses for impact – such as reach52 – and blended finance projects. It also helps drive interest from its network and bring in holistic capabilities towards the development of this platform.
- Co-Axis will build an ecosystem of philanthropists, development finance institutions, investors, and corporates to explore new mechanisms for philanthropy. Community partners include AVPN, Global FinTech Institute, PAA, and The Earthshot Prize. Together, they will build communities of interest to advance the discourse around innovation, impact, and philanthropy on the platform.
Welcoming New Partners
- Co-Axis is underpinned by partnerships and brought to life by industry leaders striving for a sustainable future powered by transformative innovation and community collaboration.
- UBS Optimus Foundation is also coming onboard Co-Axis as a Strategic Partner. It will leverage its 25 years of impact expertise, frameworks and thought leadership to bolster Co-Axis’ platform, and make available Donor Advised Fund (DAF) services to ensure efficient and seamless funding through the platform.
- All impact projects listed on Co-Axis commit to impact measurement and management. The platform is a hub for communities to share knowledge, best practices, and key learnings; build capacity, and undergo training. It will draw from impact measurement and management frameworks and resources by Knowledge Partners such as B Lab, BlueMark, CIIP, GIIN, Impact Frontiers, Tideline, SDG Impact, Stewardship Asia Centre, and Wealth Management Institute.
- Beyond enabling capital flows, Co-Axis will enable the sharing of best practices and critical insights through community-building and knowledge-sharing, to speed up and scale positive environmental and social impact.
Over 70 Impact Opportunities From More Than 40 Countries, With More to Come
Co-Axis features over 70 impact opportunities from more than 40 countries. They focus on advancing the impact categories of Climate, Health, Employment, Education, and others. The opportunities are curated from partners across the Temasek Trust, DBS Foundation, and UBS Optimus Foundation ecosystems and beyond. They include A*STAR, ABC Impact, Argor Capital, AVPN, Cartier Women’s Initiative, DBS Foundation, Helicap, Impact Hub Shanghai, Ocean Risk and Resilience Action Alliance (ORRAA), Philanthropy Asia Alliance, Silverstrand Capital, Temasek Foundation, The Earthshot Prize, UBS Optimus Foundation, and United Overseas Bank. More impact opportunities will go live on an ongoing basis.
Significant Opportunity to Catalyse Impact in Asia
- Venture funding decreased by 38% globally year-on-year in 2023 – the lowest since 2018 – (Crunchbase News, 2024) despite the urgent need for climate change solutions. Much larger quantums of innovation capital is crucial, as nearly half of the emissions reductions needed by 2050 rely on technologies not yet in the market (IEA, 2021). Asia’s share of the global US$1 trillion global impact market is small, with about 25% of global assets under management allocated to the region in 2023 (GIIN, 2023). Yet, Asia faces significant climate challenges, with over 60% of the world’s population and accounting for more than 50% of global carbon emissions (ADB). Without climate action, it risks a ~26.5% GDP reduction by 2048 (Swiss Re, 2021).
- Asia offers a unique opportunity to deliver impact at scale. New technology and digital business models enable products and services to reach millions with rising purchasing power, and social and environmental awareness. Asia’s young population also represents a fast-growing pool of socially and environmentally conscious entrepreneurial talent. Impact investing is gaining traction and increasing capital interest, with 81% of HNWIs in Asia believing they can tackle societal issues through investing versus 56% in the West (RBC Wealth Management, 2018).
- Co-Axis’ launch is a step forward in the ambition to accelerate the growth of impact, philanthropic, and investment ecosystems in the region and beyond.
Call for Partners
Organisations interested to be part of the Co-Axis ecosystem to speed up and scale impact innovation are welcome to participate. Potential partners can include financial institutions, investors, family offices, corporates, startups, charities, and impact project owners. One can commit capital, feature impact opportunities, and/or contribute to community- and platform-building. To learn more about Co-Axis and how you can get involved, please email [email protected]. Explore Co-Axis platform at https://www.coaxis.network
Examples of impact opportunities on Co-Axis include:
- Fairventures Social Forestry’s project “Regenerative Agroforestry for Climate and Social Impacts in Indonesia”, which will support 50,000 Indonesian smallholders to become climate resilient by 2035
- PescaData, a pre-seed impact venture that aims to connect 300,000 small-scale fishers for healthy oceans and resilient coastal communities in Latin America
- reach52’s project “Redesigning Healthcare to Reach 52% of the World Who Lacks Access”, which aims to offer essential health products and services to underserved rural communities in Asia and Africa.
“As an agroforestry project developer and financier, securing patient capital from like-minded grantors and investors is key for us. We strongly believe the Co-Axis platform fills a significant market gap, as it enables us to efficiently connect with different types of grantors and investors through one digital platform,” said Paul Schüller, CEO, Fairventures Social Forestry.
“PescaData is excited to be included on the Co-Axis platform. We see it as a great opportunity to share our story and our impact with like-mind organisations and investors as we grow and support small-scale fishing organisations across Latin America,” said Stuart Fulton, co-founder, PescaData.
“As an impact founder, connecting with mission-aligned funders can be challenging. Having a platform, like Co-Axis, where they can easily find and reach us will help amplify our impact. In today’s tech-driven world, this innovation in impact financing is invaluable. Streamlining the process of finding impact funders benefits both founders and the funders themselves,” said Edward Booty, CEO, reach52.
About DBS Foundation
The DBS Foundation is committed to uplifting lives and livelihoods by igniting change in businesses and communities. Since 2014, the DBS Foundation has been championing social enterprises in Asia, businesses that are for profit, and impact. The Business for Impact chapter now catalyses the growth of innovative, purpose-driven businesses, including SMEs, designed to address pressing issues facing our planet and society. In 2022, the DBS Foundation raised the bar with the formation of a new Community Impact chapter, to equip the underserved with digital and financial literacy skills to face the future with confidence and enable communities to be more food secure and resilient. Our vision is to spark collective action, together with our partners and DBS People of Purpose, to help build a better world for generations today and tomorrow.
About UBS Optimus Foundation
The UBS Optimus Foundation is a network of philanthropic foundations globally which connects clients with inspiring programs that are making a measurable, long-term difference to the most serious and enduring social and environmental problems. The UBS Optimus Foundation has a 25 year track record and is recognized as a philanthropic thought-leader, focused on incubating impact ventures, scaling impact through partnerships and achieving impact transparency.
About Temasek Trust
Temasek Trust, established by Temasek Holdings, is a steward of philanthropic assets, advocate of sustainability and catalyst of positive impact. It provides governance and financial oversight of endowments for an ecosystem of entities with the shared purpose of building better for every generation by protecting the planet, uplifting communities, connecting people, and advancing capabilities. In forging new pathways for philanthropy and impact investing with like-minded partners, Temasek Trust aims to promote catalytic philanthropy as a force for good.
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