- Since its inception in 2019, ABC Impact has made significant strides, empowering over 26.9 million people with essential services and reducing CO2 emissions by 1.71 million metric tonnes.
- Opportunities abound in combating climate change through technology and innovation; in 2023 ABC Impact invested into solutions that tackle global plastic pollution as well as food waste.
- The firm continues to uphold and advocate industry standards in impact investing in 2023, obtaining the B Corp certification and participating in initiatives such as the 2X Global gender initiative and the ESG Data Convergence Initiative.
SINGAPORE, 28 March 2024 — ABC Impact, the leading impact private equity firm in Asia, today unveils the fourth edition of our Impact Review – sharing highlights from 2023. This review illustrates our journey in connecting regions, knowledge, and technologies to forge sustainable and impactful changes across the Asia continent.
Tow Heng Tan, chairman of ABC Impact, reflects on the firm’s journey: “At ABC Impact, we are driven by the vision of a better tomorrow and the resolve to turn it into reality. Our mission goes beyond mere investments; it’s about igniting a movement for lasting impact. As we enter our fifth year of investing, we are embracing the challenges ahead with courage and conviction, recognising that our purpose-driven actions today will shape tomorrow’s landscape.”
Tracking Our Measurable Impact
From our inaugural fund in 2019, ABC Impact invested in 13 companies across Asia and Europe, and achieved one successful exit. Our portfolio companies across four investment themes – financial and digital inclusion, better health and education, climate and water solutions, and sustainable food and agriculture – have collectively delivered the following impact outcomes for stakeholders:
- 26.9M people supplied with essential services
- 2.90M patients provided access to healthcare services
- 11.96M students provided access to quality education content digitally
- 47,100 stakeholders benefited from autism therapy services
- 4.08M individuals & micro-enterprises gained access to financial services
- 7.92M farmers globally gained access to customised farming advice and information (of which 5.13M are smallholder farmers)
- 1.71M metric tonnes of CO2 emissions avoided
- 57.6B litres of water saved through avoidance of livestock agriculture
Building on the success of our inaugural fund, ABC Impact launched Fund II in August 2023, securing over US$550 million in our first closing. This achievement reflects trust and support from new investors that include a Southeast Asian sovereign wealth fund, as well from existing partners such as Temasek Trust and Temasek. This endorsement also underscores a growing confidence in impact investing returns and in our disciplined and evidence-based investment strategy.
David Heng, CEO of ABC Impact, said, “Our approach goes beyond investment – it’s about collaboration, innovation, and resilience. I am privileged to lead a team dedicated to driving positive change across Asia. Together, we navigate the complex landscape of impact investing, leveraging our collective expertise to unlock opportunities and address pressing challenges. With unwavering commitment, we stand ready to forge ahead, building bridges and shaping a brighter, more inclusive future for all.”
Combating Climate Change Through Innovation
Our 2023 Impact Review underscores ABC Impact’s focus utilising technology to address environmental challenges like plastic pollution and food waste. Our approach involves partnering with companies that offer innovative solutions in these areas.
In the year, we have supported Polymateria, a British firm developing biotransformation technology to help reduce plastic pollution. This technology aims to break down plastics in a way that lessens their environmental impact, providing a potential solution to the ongoing issue of plastic waste.
We also invested in Winnow, which uses AI to manage food waste more effectively. Winnow’s system helps commercial kitchens cut down on unnecessary waste by providing insights into their food usage, which can lead to significant reductions in their environmental footprint.
Through these investments, ABC Impact seeks to contribute positively to environmental sustainability by supporting scalable and practical solutions to combat climate waste.
Upholding Standards in Impact Investing
ABC Impact navigates the dynamic landscape of impact investing with a steadfast commitment to transparency and robust impact measurement. Our approach is rooted in a comprehensive system that not only underscores our dedication to sustainable and responsible investing but also steers our decision-making processes.
In 2023, we enhanced our commitment by aligning our impact metrics with international standards and securing B Corp certification, reflecting our ongoing dedication to social and environmental stewardship.
Outlook: Steering Towards a Sustainable Future
ABC Impact is keenly aware of the key trends influencing the impact investing landscape, including the development of sustainable food systems, enhanced biodiversity conservation, efforts to counter greenwashing, the rising significance of private investments in emerging markets, and the increasing trust in the profitability of impact investments.
Our ongoing initiatives, underpinned by these market insights, aim to drive substantial and positive change across the region, aligning with our mission to foster a sustainable and equitable future.
Following the successful launch of ABC Impact Fund II, we are renewed in our commitment to seek solutions from around the world and bring them to Asia to help address the pressing social and environmental issues in this diverse continent. Our goal remains to contribute to a sustainable future by investing in initiatives that can make a significant positive impact in the region.
Follow us on this impactful journey at www.abcimpact.com.sg/impactreview2023.
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For queries: jfang@eleven.com.sg
About ABC Impact
ABC Impact is an Asia-focused private equity fund dedicated to impact investing. We invest in companies that drive positive change by addressing the world’s most pressing challenges such as climate change, resource scarcity, and deepening inequality.
A division of Singapore-based global asset management firm Temasek Trust Asset Management Pte Ltd., ABC Impact’s founding investors are Temasek Trust, Temasek, Pavilion Capital, Mapletree Investments, Seatown Holdings, SP Group, and Sembcorp Industries.
We are a signatory of the Operating Principles for Impact Management and the United Nations-supported Principles for Responsible Investment.
For more information, please visit www.abcimpact.com.sg.