AVPN, the largest network of social investors in Asia, has launched the second phase of ImpactCollab, its outcomes-based social investing system developed with support from the Monetary Authority of Singapore (MAS) and the Gates Foundation.
AVPN says ImpactCollab is designed to provide clear and verifiable data on credible organisations to support. This allows AVPN members, grantmakers and wealth and philanthropy advisers to discover, assess and engage with a curated pool of verified and reputable impact organisations.
According to AVPN, the ImpactCollab platform currently features more than 400 impact organisations from across Asia, and the network is in talks with “leading private banks” to join the platform.
Private banks in ImpactCollab’s “early access programme” and AVPN members will be able to access the ImpactCollab platform from June 27, says Kevin Teo, head of ImpactCollab and chief technology officer at AVPN. The Edge Singapore understands this includes Citi Private Bank and LGT Private Banking.
While there are 2,000 family offices, more than 300,000 millionaires and US$1.2 trillion ($1.53 trillion) of wealth under management in Singapore, the potential for philanthropic deployment remains “largely untapped” as private bankers and wealth managers here are not familiar with the sector, says AVPN.
Speaking to the media, Teo says there are less than 10 full-time philanthropy advisers within Singapore’s private banking sector, compared to more than 5,000 relationship managers based here.
See also: AVPN launches social investing system ImpactCollab with MAS support
Private bankers are addressing their high-net-worth clients’ philanthropy queries in a “reactive” manner, says Teo. “A client needs to actually raise this question to their relationship manager and then seek support from the bank before the bank looks internally for the philanthropy resource to respond to the client.”
Through ImpactCollab, AVPN hopes to enable Singapore’s 5,000 relationship managers to answer such queries themselves. “They are in contact with the clients, looking after their well-being, in terms of asset management, the family’s needs and everything else. We want to be able to tap into [that] and to put philanthropy into the conversation stream.”
In March, Citi Private Bank launched its philanthropy advisory solutions in Singapore, allowing its clients here to establish donor-advised funds (DAF) or donate through its two registered charity partners: the Community Foundation of Singapore and AVPN.
See also: Warren Buffett donates US$6 bil in Berkshire shares to charities
A DAF is a fund account for charitable donations, managed by a sponsor such as CFS or AVPN. With a minimum sum of US$250,000, Citi Private Bank’s global family office group will connect clients with relevant charities for philanthropic contributions.
Gillian Tan, MAS’s assistant managing director (development and international) and chief sustainability officer, says ImpactCollab equips wealth managers with “crucial tools” for measuring the impact of social programmes in Asia. “In line with MAS’s vision to strengthen Singapore’s role as a trusted and responsible financial centre… This will allow financial institutions to better support their clients in their philanthropic journeys and unlock meaningful capital flows in Singapore and the region.”
From left: Steve Loh, executive director, Lien Centre for Social Innovation; Achal Agarwal, incoming chair, AVPN Board; Anupama Anand, programme officer, Asia, Philanthropic Partnerships, Gates Foundation; Teo Kai Xiang, deputy director and head (banking development division), Monetary Authority of Singapore; Kevin Teo, chief technology officer, head of ImpactCollab, AVPN
Mobilising US$100 million
ImpactCollab’s first phase was launched in April 2024 at the AVPN Global Conference 2024 in Abu Dhabi. Then, ImpactCollab’s “social outcomes platform” provided a “neutral, unbiased way” to calculate the annual outcomes of what impact organisations do, allowing them to validate and evaluate their work by cost and effectiveness.
The launch marked the start of a three-year initiative that aims to feature up to 1,200 impact organisations across the target markets of Singapore, Malaysia, Indonesia, Thailand, the Philippines, India and China.
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By 2030, ImpactCollab aims to mobilise US$100 million, says Teo.
With the launch of phase two, ImpactCollab now includes the Governance Maturity Framework, co-developed with the Lien Centre for Social Innovation at Singapore Management University.
The framework assesses impact organisations against a range of parameters including strength of leadership, codes of conduct, transparency and accountability. It also incorporates LSEG World-Check screening to enhance governance and assurance standards.
“Driving real impact requires more than intent — it requires clear governance, transparency and measurable results,” says Steve Loh, executive director of the Lien Centre for Social Innovation. “The Governance Maturity Framework helps AVPN members, grantmakers, and wealth and philanthropy advisors evaluate social organisations with confidence.”
Looking ahead, AVPN is evolving ImpactCollab to support outcomes-based funding. The upcoming Outcomes Marketplace, developed with Tri-Sector Associates, will enable grantmakers to purchase verified social outcomes across key impact areas. Through standardised contracts, outcome rate cards, and third-party validation, the marketplace will help unlock cross-border giving, scaling results-based funding for high-impact solutions in Asia.
Photo: AVPN
Read more about philanthropy and impact investing:
- AVPN names 49 beneficiaries of US$15 mil AI skills training fund; Google.org tops up US$10 mil (May)
- Rethinking philanthropy for a new global reality (May)
- Philanthropy essential for societal innovation: Bill Gates (May)
- Temasek Trust’s impact marketplace Co-Axis secures $1.25 mil in catalytic capital (May)
- Investing in peace: Why and how firms do it (April)
- ‘A time of great uncertainty’ for the philanthropy sector: AVPN CEO (February)
- CapitaLand’s philanthropic arm launches regional grant call for $3 mil youth-focused initiative with AVPN’s support (February)
- Costly data-gathering, impatient capital and few blended finance transactions limit impact investing in Asia: panel (September 2024)
- Charity vs philanthropy: A clash of ideas at AVPN’s Abu Dhabi conference (May 2024)
- AVPN launches social investing system in Abu Dhabi with MAS support (April 2024)
- Investing for impact? Learn these lessons from ESG investing (April 2024)
- ‘Strong storytelling, clear visual aids’ help ABC Impact explain impact of investments (April 2024)
- T Rowe Price’s Global Impact Equity Fund seeks returns and measurable impact (April 2024)
- Don’t conflate investing in activity with actual impact: UBS philanthropy head (April 2024)
