Philanthropic foundations form impact investing fund to make “meaningful change”

Several philanthropic foundations, including the Paul Ramsay Foundation, have formed an alliance focused on impact investing called the Foundation Impact Investors Group (FIIG).

The rest of the foundations involved are Minderoo Foundation, the Macquarie Group Foundation, the Westpac Foundation, UBS Optimus Foundation Australia, Hand Heart Pocket, Lord Mayor’s Charitable Foundation, the English Family Foundation and the Snow Foundation.

Impact investing is investments made not only to make a profit but with an element of social good or an environmental impact.

FIIG will look to help foundations share practices on impact investing, as well as streamline the process for social enterprises and other for-purpose organisations looking for investments.