Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ’s Largest Impact Investing Fund Raises $20M

Corporate foundation heavyweights and high net-worth individuals are combining forces with the philanthropic sector and family trusts to invest in innovative solutions to New Zealand’s social and environment problems.

It is the first time the commercial sector has partnered with community trusts and individuals on this scale with the aim of creating positive social change as well as making a profit.

The Purpose Capital Impact Fund (PCIF) has achieved its ‘first close’ target of raising $20m and is now ready to begin investing in projects nationwide. Potential opportunities include regenerative agriculture on dairy farms, urban transportation, green housing, social housing and social improvement through horticulture projects partnering with rural Iwi.

The fund was launched in March 2019 by Bill Murphy, founder of Enterprise Angels. It has already attracted some major investors including the Tindall Foundation, K1W1, WEL Energy Trust, BayTrust, TECT and numerous private individuals and family trusts.

“K1W1 has always been about making a difference in New Zealand”, commented Robbie Tindall of K1W1, “investing through Purpose Capital Impact Fund is another way for us to broaden and deepen our impact throughout the country”.

Murphy says he was inspired by the success of impact investing overseas and felt he was well-placed to introduce the concept here. “I felt very excited and somewhat intimidated by the opportunity to be part of getting it going in New Zealand,” he says. “It’s been a great challenge but the commercial sector are very open to the idea of impact investing. They firmly believe that taking commercial business and investment disciplines and applying those to social and environmental change will yield results.”

The fund will be led by a highly experienced team. Directors include Jon Mayson (former Port of Tauranga CEO and Chair of NZTE and Scales Corporation), Steve Tucker (Gallagher Group Executive Chair), and David McCallum (Director of the investment banking team at Deutsche Craigs).

“Bringing a performance aspect to driving social change is something that we’re all really excited about and using our commercial skills to create more meaning than just more money.”

The challenge now is to find the right projects to begin investing in, Murphy says.

“Given the immaturity of the eco-system for impact investing in New Zealand, we are having to go look for opportunities and help shape those for investment. We can’t simply sit back and wait for things to come to us. We have to be aware of aspirational social and environmental changes out there and engage with them.” The philanthropic sector, and the contacts they have, will be invaluable in this regard, he says.

“They’re also a key partner as additional resources will be required to take that pro-active approach to engagement with really great environmental and social change projects to help bring those to life and make those investable.”

While the fund is now officially active, it will remain open for further investment and is aiming to reach $30m. It will focus predominately across the central North Island but will consider investments outside of this region when the right opportunities exist. “We’ve had very strong investment support to date from the Bay of Plenty and Waikato so it was pleasing to have three Auckland-based funds put the icing on the cake by helping us reach $20m – The Tindall Foundation, K1W1 and The Wilberforce Foundation”.”

-Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mining: OceanaGold Announces Receipt Of WKP Mining Permit

MELBOURNE, Australia, Aug. 6, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the 'Company') is pleased to announce it has received the mining permit for Wharekirauponga ('WKP') on the North Island of New Zealand. ... More>>

ALSO:

Economy: COVID-19 Lockdown Has Widespread Effects On Labour Market

In the June 2020 quarter, the seasonally adjusted unemployment rate fell to 4.0 percent, down from 4.2 percent last quarter, while underutilisation rose, Stats NZ said today. More>>

ALSO:

NZ Post: New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3

New research by NZ Post into how the COVID-19 response has impacted the way Kiwis shop online, shows online shopping increased 105%* when the country moved into Alert Level 3, and may have changed the way Kiwis shop permanently. Online spend peaked ... More>>

ALSO:

Banking: Westpac NZ Lowers Merchant Fees For Small Businesses

Westpac NZ is rolling out a new merchant fee pricing structure that will lead to cost savings for more than 10,000 small and medium Kiwi businesses, and could make contactless transactions more widely available for customers. On 1 September, most ... More>>

REINZ: Million Dollar Plus Property Sales Increase 11.7% Nationally

The number of properties sold around the country for one million dollars or more during the first half (H1) of 2020 increased by 11.7% compared to H1 2019, with 5,426 million-dollar plus properties sold (up from 4,858 in H1 2019) according to the Real ... More>>

Waste: Government To Regulate Plastic Packaging, Tyres, E-Waste

The Government is stepping up action to deal with environmentally harmful products – including plastic packaging, tyres and e-waste – before they become waste. As part of the wider plan to reduce the amount of rubbish ending up in landfills, ... More>>

ALSO:


Antarctica NZ: Ice-Olation

Antarctica New Zealand is gearing up for a much reduced season on the ice this year and a very different deployment to normal! Before they head to one of the remotest places on the planet, all personnel flying south with the New Zealand programme will ... More>>

ALSO:

QV Valuations: July House Price Index Illustrates Market Resilience

According to the July 2020 QV House Price Index (HPI) results out today , property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower. More>>

ALSO:

Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>

ALSO:

FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>

ALSO: