ImpactConnect

Fund details

Governing Law: Singapore
Fund Size: $50M (hard cap at $100M)
First close: 1H 2025
Final close: Within 12 months of First Close
Term: 10 + 2 years
Investment Period: 5 years
Minimum commitment: $2M
Fund lawyers: King & Wood Mallesons
Agent: Vistra

Investment objectives

Stage: Multistage
Geographic focus: 50% Indonesia, 50% startups in emerging Asia entering Indonesia
Portfolio: 15 companies
Target ownership: 15-20% ownership level
Sub-sector focus: renewable energy, electric mobility, energy efficiency, climate smart agriculture and waste & circularity

Structure

Management fee: 2.5% over committed capital during investment period, 1.5% over invested capital thereafter
Carried interest: 20%

Epiminder is a pioneering medical technology company developing an innovative solution for epilepsy monitoring. Through groundbreaking trials, Minder has demonstrated the ability to overcome a major challenge in epilepsy care – long-term identification and monitoring of epileptic syndromes for both physicians and patients.
Minder enables [superior / more promising] seizure detection compared to the current 'gold standard', helping neurologists optimise treatment plans, reduce hospital visits, and improve patients' quality of life. Additionally, Epiminder's technology may also have potential applications beyond epilepsy.
Epiminder is positioned to be the first to capitalise on a substantial U.S. market opportunity, initially targeting a segment generating ~US$1bn in annual revenue. The company has secured American Medical Association (AMA) approval for CPT codes for Minder, with U.S. payors recognising the need for accurate seizure monitoring. Approximately 40 leading epilepsy centres – including Harvard Medical Teaching Hospital, Stanford Medicine, and Yale School of Medicine – have expressed interest in participating in upcoming DETECT trials, reinforcing momentum for payor support and physician adoption.
The company presents an opportunity to invest in an exceptional founding team: proven world leading manufacturer, top class research and clinical expertise in Cochlear Ltd (COH.ASX), the University of Melbourne, St Vincent's Hospitals, and the Bionics Institute.

CCREAT owns four operating solar farms and one land holding across Australia valued at $30M, and retains a first right of investment on Climate Capital's >$200M project pipeline. Climate Capital originates projects that align with CCREAT's investment criteria (10+ years offtake, min 80% contracted volume, credible counterparty, average 10-12% unlevered IRR), and under an asset management agreement, builds and operates these assets to provide unitholders with portfolio target investment returns in capital growth of 5-10% plus distribution yields of 6-8%.
Over the past five years, projects had been sized (<5MW or ~$8M) to accommodate investor expectations on a low-risk, quick deployment, behind-the-meter strategy at industrial locations with grid access. Today, Climate Capital's pipeline contains a range of project sizes and complexities, however all still aligning with the investment principles of long-term, predictable returns with credible counterparties.
An investment in CCREAT provides the immediate benefits of participation in a diverse, operating portfolio generating cashflow, access to over $200M of new projects over the next three years, and an experienced, dedicated team supported by strong industry colleagues, ready to deliver significant long-term value through renewable energy and storage assets across the country.

We manage a single investment portfolio to capitalize on the ageing population and the medical technology revolution which we believe will result in sustainable outperformance. The global population is ageing, and advanced age is the number one risk factor for almost all health conditions. However, advancements in medical technology now allow for effective interventions well into later life, which we believe will result in sustainable positive returns. We aim to capitalize on this trend by identifying innovative medical technology companies that address these unique challenges and opportunities.

The Cordis Global Medical Technology Fund is a fund designed to complement a broad range of equity strategies as a satellite investment to a core portfolio. It is available on multiple platforms and has been rated 4.25 Stars (high investment grade) by SQM.

We manage a single investment portfolio to capitalize on the ageing population and the medical technology revolution which we believe will result in sustainable outperformance. The global population is ageing, and advanced age is the number one risk factor for almost all health conditions. However, advancements in medical technology now allow for effective interventions well into later life, which we believe will result in sustainable positive returns. We aim to capitalize on this trend by identifying innovative medical technology companies that address these unique challenges and opportunities.

The Cordis Global Medical Technology Fund is a fund designed to complement a broad range of equity strategies as a satellite investment to a core portfolio. It is available on multiple platforms and has been rated 4.25 Stars (high investment grade) by SQM.

Gastric and oesophageal cancers have poor outcomes, due to cancer spreading from a primary location to lymph nodes that are found anywhere from the neck to the abdomen. Current imaging methods (CT and PET) are unable to detect nearly all cancers in these lymph nodes and as a result surgery is extensive, with complication rates of 59% in oesophageal cancer and 41% in gastric cancer. Leaving behind lymph nodes with cancer is devastating for patients, with 3-year survival rates in Australia only 43% for localised oesophageal cancer and 28% if cancer is found in lymph nodes.
Ferronova first program, FerroTrace, is designed to resolve this issue by enabling clinicians to identify the lymph nodes where cancer spreads first with Magnetic Resonance Imaging (MRI). This enables the clinical team to plan treatment and surgery, in some cases replacing surgery with sampling of these critical nodes. If these draining nodes are clear of cancer, then surgery can be minimised or eliminated.
FerroTrace has been evaluated in two completed clinical trials totalling 30 patients with a 100% negative predictive value. A 60-patient gastric and oesophageal cancer trial is ongoing at five centres in Australia, with enrolment expected to complete in 2025.

Emissions from enteric fermentation (i.e., methane from livestock's guts) make up 5% of global GHG emissions – this is greater than aviation, rail transport and shipping combined! With methane being 28x more potent than carbon, the climate imperative to work with farmers and help reduce cattle methane emissions is substantial.
Fremantle Seaweed are accelerating the deployment of a leading solution to this challenge by cultivating and producing Asparagopsis feed supplements for cattle.
We are growing Asparagopsis where seaweed grows best: in the ocean. Our advantageous marine lease is in the 'goldilocks zone' for its cultivation, placing us in the prime position to become Australia's leading Asparagopsis producers
In 2024, we solved for the biggest challenge to commercialisation: successfully growing out trials of Asparagopsis cultivated tetraspores on a marine lease – an Australian first!

As we now look to scale, we anticipate that we could drive the abatement of 620,244 tCO2e- per year.
We are looking for seed investors to join us in our mission by providing both patient capital – through equity or debt arrangements - and strategic advice to support us scale our operations and expand our commercial partnerships.

Investing in Biotechnology offers strong financial returns with low correlation to broader equity markets, making it ideal for portfolio diversification. As aging populations fuel demand for novel therapies, biotech delivers both profit and purpose—advancing life-saving treatments, extending lifespans, increasing quality of life and combating a wide range of diseases from cancer to rare paediatric disorders. Successfully navigating this complex sector requires specialist investors with deep medical and scientific expertise. HB Biotechnology has a proven long-term track record of outperforming its index, making it a trusted leader in biotech investing.

HeraMED (ASX: HMD) is transforming maternity care with its AI-powered HeraCARE platform, enabling remote monitoring and early intervention to improve pregnancy outcomes.
Use of Funds:
• Accelerate U.S. hospital adoption, building on success with Broward Health.
• Pursuing discussions and potential partnerships with large and prestigious hospitals across the country
• Expand clinical validation and commercial partnerships to drive healthcare reimbursement pathways.
• Scale sales and support teams to meet growing U.S. demand.
• Advancing relationships with key medical organisations, research, and universities as well as insurance companies
• Developing appropriate partnerships to access non-dilutive government grant funding and potentially benefit from R&D tax concession

Mober is revolutionizing logistics with a fleet of 100% electric delivery vehicles, cutting emissions without increasing costs. With 150 EVs today and a roadmap to 500+ by Q1 2026, we are scaling fast.
Our proprietary Battery Management System (BMS) and Transport Management System (TMS) optimize fleet efficiency, ensuring lower operational costs and higher profitability. Investing in Mober means aligning with a high-growth, impact-driven company that's leading the transition to sustainable logistics in the region. Early investors will benefit from a stake in a rapidly growing sector with strong revenue projections and a significant ESG impact.
Be part of the movement driving Southeast Asia's logistics toward a zero-carbon future.

UGEP is seeking a strategic minority investment of up to $25 million, allocated partially into its HoldCo and directly into its utility-scale solar projects. This investment will accelerate the company's growth in the Philippines' commercial, industrial (C&I), and utility-scale solar markets, supporting its goal of achieving 1 GW of renewable energy capacity by 2028.
Investment Highlights:
1. Immediate Impact: Funds will be used to advance utility-scale project development, expand the C&I portfolio, and strengthen operational capabilities.
2. Scalable Growth: With 100 MW of operational C&I capacity, 100 MW of utility-scale projects ready for construction, and an active pipeline of over 300 MW, UGEP offers a clear path to scaling its portfolio.
3. Strategic Partnerships: UGEP's collaborations with Aboitiz Power, Gokongwei Group, and leading financial institutions like DBP and Landbank provide market access, credibility, and financial stability.
Investor Benefits:
- High Growth Potential: The Philippines' renewable energy sector is rapidly expanding, offering significant returns on investment.
- Diversified Portfolio: Exposure to both C&I and utility-scale solar projects mitigates risk and enhances revenue streams.
- Strong Local Presence: UGEP's deep market expertise and established partnerships ensure efficient project execution and long-term success.

This investment opportunity aligns with global sustainability goals while delivering attractive financial returns in a high-growth market.

5North are developing a highly automated robotic production factory to disrupt Australia's building industry, and significantly increase the supply of affordable and social homes.

Imagine 12 robots, each the size of an adult giraffe, in a factory 3/4's the size of a soccer field. Instead of 100 workers on the tools, 15 people manage the line, producing precisely engineered modular homes with European levels of acoustic and thermal insulation.

The factory can produce 34 m2 of home every 8 minutes, the equivalent of 972 homes a year, from a single shift of 7.5 hours a day, 48 weeks a year. This can be double or tripled in 1 factory. These can be built up to 6-storeys, delivering high quality at better than market rates.

Led by Wayne Hughes (CEO), 5North have committed $6M+ developing 13 x 3 level townhouses in Adelaide, and to support negotiating agreements with the South Australian Government, Wayne met with the SA Treasurer and Under Treasurer in Cambrideshire, UK.

Here he showed them 78 x 2 level town homes completed in 5 months using our technology, then took the Head of Capital for South Australia's Housing Trust to San Francisco, to see 136 apartments built from dirt to keys in 10 months.

Our modelling details a 3-year payback period for our investors, and conservatively estimated returns of 29%.

Designed as a core alternatives holding, this fund will target future-focused thematics — decarbonisation, digitalisation, urbanisation, circular economy and changing demographics — leveraging structural tailwinds to drive both financial returns and meaningful impact.
With a low minimum investment, a targeted 11-13% IRR, and a carefully constructed portfolio of direct, semi-direct and fund investments, this is a rare opportunity to access a thoughtfully curated and diversified private markets strategy.
Join us at the Impact Investment Summit to be among the first to explore this opportunity.

The global wearable market, $170B, presents a vast opportunity. By capturing just 1% of this market, inTruth can generate $500M in ARR. With a strong product-market fit, a patented machine-learning model, and key commercial partnerships, we are on track forge and own a new category in the wearables space and beyond.
We are running active pilots in mental health and motorsports, with profound results, validating inTruth's B2B utility across industries. Investors benefit from our scalable SaaS model, diversified revenue streams, and competitive edge in a category we're defining. Our leadership team, backed by clinical research and AI innovation, is committed to driving long-term growth. Now is the time to join us in transforming emotional health and reshaping the future of human potential.

The Pacific is at an educational crossroads. In Papua New Guinea alone, nearly one-third of students never complete primary school, and the gap in access to quality education continues to widen. The challenges are immense - limited infrastructure, a severe teacher shortage, and geographical barriers that isolate students from learning opportunities. Without intervention, millions of young people will be left behind, stalling economic growth and deepening social inequality across the region.

Reelae is breaking these barriers.

We have digitized the national curriculum for Grades 7-10, enabling students across PNG - especially in remote and underserved areas - to access structured, high-quality education anytime, anywhere. With $4 million in investment, we will scale this proven model to reach 20,000 students in 2025, with a clear path to nationwide adoption. Our exclusive contract with the PNG Department of Education positions us as the leading EdTech provider in a government-backed transformation of the national education system.

By 2029, revenue from FODE alone is forecast to reach $7.1 million, with a 50% profit margin - before even expanding to public schools and the wider Pacific region. This isn't just a high-growth opportunity; it's an impact-driven, scalable solution to one of the region's most pressing challenges.

Investing in Reelae means unlocking the potential of an entire generation. With our Port Moresby headquarters ensuring deep local engagement and our Sydney office driving global partnerships, we are uniquely positioned to reshape the future of education in PNG and beyond.

This is your opportunity to be at the forefront of transforming education in the Pacific, delivering both financial returns and lasting social impact.

• At Next Billion, we are building the impact growth equity specialist focused on emerging markets
• The team built the technology investment platform at IFC / World Bank and has delivered strong financial returns as well as impact at scale in this exact asset class
• Next Billion's second PE fund, the $250M Digital Growth Fund, invests in growth-stage category leaders that are digitalizing financial services and healthcare in Latin America, Africa, and Southeast Asia
• We have held several fund closings and are backed by blue-chip institutional impact investors from the US and Europe. Final close is expected to occur in late 2025
• The Fund will build a portfolio of 15 companies across 5-6 high-impact, high-growth digital business models. We are currently closing on our 3rd investment out of the fund, with an exciting pipeline at the intersection of fintech and digital health
• Standard PE fund terms with 8% hurdle / European waterfall

FivepHusion is a clinically advanced & globally focused private biotechnology company headquartered in NSW, with a purpose to optimise cancer therapy to improve patient treatment outcomes and quality of life. With three early phase clinical trials successfully completed, we are currently preparing for registration trials of our next-generation cancer therapy, Deflexifol®. Our strategic priorities are to optimise treatment for newly diagnosed metastatic colorectal cancer (mCRC, also known as stage 4 bowel cancer), a US$13B market; and paediatric ependymoma, the third most common brain cancer in children. This disease has no approved drugs and is part of the US$1.8B childhood brain cancer market. FivepHusion is planning for commercial launch of Deflexifol® in 2029 with anticipated revenues of >US$1B in 2033.
FivepHusion is raising up to AU$20M now to prepare Deflexifol® for registrational trials in mCRC and paediatric ependymoma. New capital will predominantly fund two Australian clinical trials which are ethics-approved and ready to go, and scale-up pharmaceutical manufacture in Melbourne at Pfizer. Funding will also be used to support engagement with global regulatory agencies, for corporate development and other pipeline opportunities, and for preparations for an IPO designed to fund Deflexifol® through to market registration in 2029.

The Emerging Asia Sustainable Infrastructure Fund (ESIF) offers investors access to high-growth, climate-aligned infrastructure across one of the world's most dynamic regions, targeting a 16–18% gross IRR while delivering measurable environmental and social impact.
Backed by the long-standing PATRIZIA–Mitsui partnership, the fund benefits from unrivalled market access through APAC's largest infrastructure network, with more than 15,000 staff across 67 offices enabling proprietary deal flow and deeply informed local execution. ESIF invests in scalable mid-market platforms across renewable energy, water, mobility, digital and social infrastructure, with a focus on greenfield opportunities.
With 100% of investments promoting environmental or social objectives, the fund directly supports the transition to low-carbon, climate-resilient systems across Emerging Asia, and its seed portfolio—including solar, cooling-as-a-service and sustainable mobility platforms—already demonstrates strong momentum with projected returns above target.
Supported by a 27-year APAC track record, a governance framework developed with cornerstone investor, the European Investment Bank, and a highly aligned investment team, ESIF presents a compelling opportunity to achieve attractive returns alongside scalable, long-term sustainability impact.