NAB has launched a pioneering $1 million Impact Investment Readiness Fund in partnership with Impact Investing Australia to provide mission-driven organisations with targeted advice and support to help them secure investment for scaling up their social or environmental impact.
Opening today, the Fund is offering grants of up to $100,000 for not-for-profit organisations and social enterprises to purchase specialised capacity building support from providers such as advisory, financial, intermediary or legal services.
The Fund has been created in recognition of the potential of impact investing to change the way Australia addresses social issues and the important role that access to capital can play in delivering better outcomes for people and communities.
It aims to bridge the gap in the Australian market that exists between mission-driven organisations in need of funding and investors actively seeking impact investment opportunities.
“There is a fundamental shift underway to address the challenges facing Australia in the future. We want to show that access to capital can increase the impact that the community sector and social purpose organisations can deliver for our people and communities to prosper,” said Steve Lambert, NAB’s Executive General Manager Debt Markets and member of the Australian Advisory Board on Impact Investing.
“NAB also believes we have a responsibility to deliver holistic and innovative financial solutions that help our customers address social and environmental problems through impact investment.”
NAB General Manager Corporate Responsibility, Paula Benson, said the $1 million fund will support organisations that might have a great business model but were still preparing a case for financing.
The establishment of an Impact Investment Readiness Fund is an important first step towards growing the market for impact investing in Australia, and responds to a specific recommendation made in ‘Delivering on Impact‘, the Australian Advisory Board on Impact Investing’s strategy to catalyse impact investing.
Click here for more information about the Fund and to apply for funding.