Support for social enterprises, system-level investing, global impact leaders meet

Message from IIA CEO
We’re pleased to share our latest updates with you in this quarterly newsletter, reflecting the progress within the impact investing sector in Australia.
Firstly, we have launched the Social Enterprise Development Initiative (SEDI) capability building grants. Over the next two years, IIA will administer this important program which supports social enterprises and intermediaries to strengthen their ability to drive positive social change. SEDI also includes an education and mentoring component, with a new online resource launched to help social enterprises navigate the sector.
Our recent workshop on system-level investing, held in collaboration with the UN-supported Principles for Responsible Investment at the University of Melbourne, was a resounding success. We were fortunate to have a global expert from the US Impact Integration Project share their expertise on the importance of integrating systemic factors into investment strategies.
Last month I was privileged to attend the global leadership meeting of GSG Impact, comprising 150 impact leaders representing more than 50 countries. I was invited to deliver a presentation on Australia’s new Outcomes Fund, and to brief attendees on the progress of Australian Development Investments in supporting impact in our region.
Finally, we recommend you save the date for 2025 Impact Investment Summit in Sydney. Next year’s summit is designed to attract more institutional and private investors, with dedicated investment streams and tailored sessions. Thank you for your continued support and engagement. We look forward to advancing our shared mission of impactful investing together.
Best wishes

David Hetherington, CEO
Impact Investing Australia
Grants to help social enterprises grow their impact
Social enterprises, including Indigenous owned or controlled organisations with a defined social benefit, are encouraged to apply for a Social Enterprise Development Initiative (SEDI) capability building grant to help grow their business, scale their impact and further their missions of creating positive social change.
SEDI grants support social enterprises across all states and territories that are delivering services for people living in Australia experiencing entrenched disadvantage in a range of social outcome areas, including: communities, employment, education, health and disability, and First Nations Australians.
Administered by IIA and funded by the Department of Social Services, the grants enable social enterprises to purchase capability building services from intermediaries and other businesses, such as financial services, evaluation and impact measurement, business consulting and legal advice. Grants are valued at up to $120,000 each.
“Social enterprises play a critical role in the broader impact investing market, and we’re excited to be able to assist in their growth. Our goal is to help strengthen these organisations, enabling them to broaden their reach and deepen their impact for vulnerable individuals and communities,” said IIA CEO, David Hetherington.
There are around 12,000 social enterprises operating in Australia, employing 206,000 people and contributing an estimated $21.3 billion annually to the economy. SEDI Grants aim to bolster these enterprises, ensuring they continue to drive social innovation and support those in need.
More information about SEDI Grants
Lessons in system-level investing
System-level investing is indeed gaining attention. Investors and financial experts are increasingly recognising the importance of considering broader systemic factors and their impact on long-term investment performance.
We recently hosted a workshop on system-level investing and managing system risks and rewards in collaboration with the Principles for Responsible Investment at the University of Melbourne. IIA Chair, Richard Brandweiner, opened the session sharing his perspectives on the importance of system-level investing and highlighting why it is crucial for investors to pay attention to this approach.
Keynote speaker was Columbia University professor and CEO of New York-based TIIP – The Investment Integration Project, Bill Burckart. Bill advises clients (including pension plans, investment management firms, private foundations and endowments, government and major industry bodies) on integrating their system-level and investment goals. At the workshop, Bill covered the basics of system-level investing and delved into where the field of practice is headed next. Participants were reminded about the need for well-defined investment beliefs, prioritising effectiveness, and the varied approaches to system-level investing taken by different investors, ranging from impact funds to large universal owners.
If you’re interested in understanding system-level investing, take a look at Bill’s website.

IIA COO Bruce Campbell (pictured left) with Bill Burckart and our IIA alumni (from left to right), Sabina Curatolo, Sally McCutchan and Rosemary Addis.
Spotlight on Australia at global leaders meeting
From 17-20 June 2024, IIA’s CEO David Hetherington represented Australia at the Global Leadership Meeting of GSG Impact, the global impact investing network that works to progress the transformation of global financial systems, so that every investment, business and government spending decision takes into account impact, as well as risk and return.
Held in Costa Rica, the meeting was attended by 150 impact leaders representing more than 50 countries. Participants explored a range of themes, including accelerating the mobilisation of capital to impact, the importance of transparent impact reporting standards, the role of creative financing partnerships, and the evolution of impact-weighted accounts.
David presented to the meeting delegates on the progress of Australia’s $100 million Outcomes Fund and the activities of the $250 million Australian Development Investments fund.

New online tool for exploring the social enterprise ecosystem
Complementing the SEDI Grants program is a whole-of-sector education and mentoring support system. This includes Understorey, a new online tool to help social enterprises navigate the sector and to learn, exchange and contribute to a better future.
Understorey brings together learning communities and leading practice resources. It is targeted at those in or interested in the social enterprise sector, aiming to feed curiosity, offer practical solutions, and inspire new possibilities for the future. It is a place for diverse input, ideas and voices, including marginalised voices.
Understorey has launched with its first content only, as it’s designed to be built collectively. Social Enterprise Australia is the steward and coordinator of Understorey, which, like SEDI Grants, is funded by the Department of Social Services.

Impact Investment Summit targets institutional and private investors
Next year’s Impact Investment Summit will be quite different to previous years, with a program designed to attract new institutional and private investors. The event, to take place in Sydney on 26 and 27 March 2025, will focus on the flow of capital to scale impact, investment opportunities, celebrate successful impact outcomes, and investigate challenges to the flow of impact capital.
Investors, companies, funds, NFPs, advisers, dealmakers and impact experts are encouraged to attend to participate in:
- Dedicated investment streams to facilitate deeper analysis of the impact deals, learning from the dealmakers, experts and major investors in climate and climate tech, communities, healthcare, edtech and medtech
- Tailored impact investing sessions for advisers, foundations and family offices on Day 1 and for Institutions on Day 2
- 2-day and 1-day tickets, providing investors a clear path of program sessions to attend over two days, and enabling advisers to select the day of their choice
- Increased networking opportunities to meet leading fund managers, companies and investors from across the Asia Pacific region, including the Australian Impact Investment Awards (at the conclusion of Day 1)
Early bird tickets are now available, offering $600 savings.
