Singapore Temasek Trust Launches TT Foundation Advisors to Provide Independent Philanthropy Advisory & Management Services in Asia to Philanthropic Foundations, Family Offices, Business Corporations, Philanthropists & Charities, Appoints Ex-UBS Head of Philanthropy & Community Impact Singapore Dickson Lim as Head of TT Foundation Advisors
1st May 2024 | Hong Kong
Singapore Temasek Trust has launched TT Foundation Advisors (TTFA) to provide independent philanthropy advisory & management services in Asia to philanthropic foundations, family offices, business corporations, philanthropists & charities, and appointing ex-UBS Head of Philanthropy & Community Impact Singapore Dickson Lim as Head of TT Foundation Advisors. Announcement (29/4/24): “Temasek Trust today announced the launch of TT Foundation Advisors (“TTFA”) which aims to be a one-stop independent provider of philanthropy advisory and management services to philanthropic foundations, family offices, business corporations, philanthropists, and charities across Asia … … TTFA has been set up to meet this increased demand and aims to build regional philanthropy capabilities by improving access to philanthropy advisory and management services … … TTFA is helmed by philanthropy advisory services industry veteran Mr Dickson Lim. As Head of TTFA, Dickson leads a team who will work with philanthropists, family offices, business corporations, and organisations in Asia to strategise, structure, execute, manage, review, and transition their philanthropic visions and legacies, across generations, geographies, and leadership successions. Prior to joining Temasek Trust, Dickson was Executive Director and Head of Philanthropy & Community Impact, Singapore at UBS, where he spearheaded the development and implementation of its regional philanthropy and social responsibility initiatives. Before that, he worked at BNP Paribas Singapore as the Head of Individual Philanthropy Services for Southeast Asia. He has served in various roles across the non-profit sector for 20 years.” In April 2024, 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.
“ Singapore Temasek Trust Launches TT Foundation Advisors to Provide Independent Philanthropy Advisory & Management Services in Asia to Philanthropic Foundations, Family Offices, Business Corporations, Philanthropists & Charities, Appoints Ex-UBS Head of Philanthropy & Community Impact Singapore Dickson Lim as Head of TT Foundation Advisors “
Desmond Kuek, CEO, Temasek Trust: “The launch of TT Foundation Advisors is aligned with Temasek Trust’s aim of building a vibrant and impactful philanthropic ecosystem in Asia by supporting the increasing interest of individuals and family offices in legacy, impact and giving to build a positive, sustainable future for every generation.”
David Chee, Partner, Private Wealth & Middle East Practices, Wong Partnership: “The launch of TT Foundation Advisors is a positive industry development and will help to strengthen the philanthropic ecosystem. Philanthropy advisory and management services will be more accessible. Clients now have another option of a reputable and trusted service provider which is not linked to a financial institution.”
Dickson Lim, Head, TT Foundation Advisors: “There is a significant opportunity to drive meaningful impact in Asia, with a fast-growing need for trusted philanthropy advisory and management services. My team and I at TT Foundation Advisors will leverage Temasek Trust’s insights, capabilities, and resources, as well as the expertise and evidence-based interventions across the wider philanthropic ecosystem, and partner with our clients to deliver strategic and impactful solutions that resonate with their passions, values, and the communities they care deeply about.”
Singapore Temasek Trust Launches TT Foundation Advisors to Provide Independent Philanthropy Advisory & Management Services in Asia to Philanthropic Foundations, Family Offices, Business Corporations, Philanthropists & Charities, Appoints Ex-UBS Head of Philanthropy & Community Impact Singapore Dickson Lim as Head of TT Foundation Advisors
29th April 2024 – Asia’s philanthropic landscape is fast evolving and growing in significance. More than a third of global wealth is projected to be in the hands of Asian millennials by 2030. 3 in 5 family offices surveyed in the region regard philanthropy as a higher priority for their principals now vis-à-vis just a few years ago. 3 in 5 also stated that younger family members expect more extensive support from their family offices than the senior generation – for example, in developing creative solutions to address environmental and sustainability challenges, along with wide-ranging support to enable personal goals. There is a shift from cheque book to catalytic philanthropy, with a greater emphasis on impact measurement and management, and more outcomes-driven, evidence-based giving.
- Singapore is fast becoming a regional philanthropic hub, with more than 1,400 Single Family Offices (SFOs) and 50% of Southeast Asia’s top family businesses. SFOs aiming to qualify for overseas donation tax incentives under the Monetary Authority of Singapore (MAS) Philanthropy Tax Incentive Scheme (PTIS) which encourages philanthropic activities abroad through Singapore, may outsource their required Philanthropy Professionals and appoint independent, trusted Donor Advised Funds (DAF) as their Qualifying Local intermediaries. SFOs are also seeking reliable advice for using regular donations and blended finance grants to fulfill their Local Spending Requirement under MAS’ 130/U schemes.
- Private banks planning to offer DAF and philanthropy advisory services may also appoint an independent and trusted partner to provide solutions.
- These developments have heightened demand for outsourced independent philanthropy advisory services and DAFs to facilitate local and regional giving.
Enhancing Access to Boost Regional Philanthropy Capabilities
- TTFA has been set up to meet this increased demand and aims to build regional philanthropy capabilities by improving access to philanthropy advisory and management services.
- TTFA will harness Temasek Trust’s networks, capabilities, and its ongoing initiatives with like-minded partners to build a vibrant and impactful philanthropic ecosystem in Asia. For example, TTFA clients can benefit from impact measurement, and management training and insights from Temasek Trust ecosystem entities such as the Centre for Impact Investing and Practices (CIIP) and the Asia Centre for Changemakers (ACC). They can embark on collaborative philanthropic projects and initiatives via the Philanthropy Asia Alliance (PAA), an action-oriented global alliance comprising more than 80 members and partners who have come together with the shared aim of catalysing innovative solutions to drive positive impact and prime Asia as a force for good. TTFA clients can also access curated global impact opportunities on Co-Axis, a digital catalytic capital marketplace for founders and funders of projects with social and environmental impact.
Helmed by Philanthropy Advisory Services Industry Veteran Dickson Lim
- TTFA is helmed by philanthropy advisory services industry veteran Mr Dickson Lim. As Head of TTFA, Dickson leads a team who will work with philanthropists, family offices, business corporations, and organisations in Asia to strategise, structure, execute, manage, review, and transition their philanthropic visions and legacies, across generations, geographies, and leadership successions.
- Prior to joining Temasek Trust, Dickson was Executive Director and Head of Philanthropy & Community Impact, Singapore at UBS, where he spearheaded the development and implementation of its regional philanthropy and social responsibility initiatives. Before that, he worked at BNP Paribas Singapore as the Head of Individual Philanthropy Services for Southeast Asia. He has served in various roles across the non-profit sector for 20 years.
About TT Foundation Advisors
TT Foundation Advisors is the philanthropy advisory arm of Temasek Trust. It is an independent provider of specialised philanthropy advisory and management services to philanthropic foundations, family offices, business corporations, philanthropists, and charities. It leverages Temasek Trust’s insights, capabilities, and resources, as well as the expertise and evidence-based interventions across the wider philanthropic ecosystem, to deliver strategic and impactful solutions for its clients.
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.
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 – 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.”
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.
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
