Australia’s IIG scores $20 million for place-based impact fund



ImpactAlpha, October 31 – Sydney-based Impact Investment Group (IIG) has been making thematic impact investments in Australia since 2013, focusing on real estate, clean energy and venture capital. Now the firm is taking a targeted place-based approach, with a new impact fund that will focus on Western Australia.

IIG’s WA Impact fund will invest in community solar, social impact bonds, sustainable agriculture and will make venture investments in local social enterprises.

WA Super, a A$3.8 billion pension fund based in IIG’s target region, is committing A$20 million in anchor capital.

IIG is part of Australia’s $13 billion impact investing ecosystem and has more than A$680 million in assets under management. The firm considers itself a low-risk impact investor and looks for commercial returns. It acknowledges that there’s available commercial capital for most of the deals it does, but says it is differentiated by its impact assessment approach, like its new Net Community Benefit Methodology for placed-based investments.

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