Business Funding First Nations Latest News

First Australians Capital closes successful Catalytic Impact Funds

Menchie Khairuddin June 25, 2024

2 min read

First Australians Capital (FAC), the only First Nations-led national business advisory and impact fund for Indigenous entrepreneurs in Australia, has announced the successful first close of the FAC Catalytic Impact Fund.

FAC secured nearly $20 million in investment from a range of diverse global and domestic investors.

Managing Partner Brian Wyborn acknowledges the early backers and long-standing cornerstone investors Paul Ramsay Foundation, an anonymous Melbourne-based trust, and the Cages Foundation.

Earlier this year, FAC also welcomed the VISA Foundation’s $2 million commitment to the Fund and a $3 million commitment from Block through its Australian subsidiary, Square.

A number of Australian foundations and family offices, including The Snow Foundation, Wyatt Trust, Tripple, Salt Catalyst, Small Giants and the AMP Foundation, have also confirmed their financial commitment to support Indigenous businesses and help drive economic empowerment and self-determination within Indigenous communities.

“First Australian Capital’s commitment to backing Indigenous-led organisations and providing mentorship addresses systemic barriers, empowering a resilient First Nations business community,” said Snow Foundation CEO Georgina Byron.

“Our investment in FAC aims to foster self-determination, economic independence and a more inclusive, caring and prosperous future for Indigenous Australians, aligning to the strategic vision of The Snow Foundation.”

As Australia’s only First Nations-led and controlled fund manager, FAC has been operating a $13 million concept fund since 2021 and has deployed $11.4M as of 30 March 2024.

The Catalytic Impact Fund connects investment markets with the Indigenous economy, offering accessible, patient debt finance to support Indigenous businesses and address racial inequity in Australia’s finance sector.

It focuses on diverse, impact-driven investments into Indigenous-led businesses that create long-term social and environmental impact for Indigenous businesses and communities.

The Fund Investment Committee is chaired by Indigenous business and community leader Jahna Cedar, joining her are corporate leaders Tim Barber and Dan Porter, together with representatives of First Australian Capital.

“We’re thrilled to announce the first close of this fund, bringing together values-aligned investors and change-makers committed to accelerating positive change and empowering Indigenous businesses and communities across Australia,” said First Australians Capital Managing Partner Brian Wyborn.

“This fund connects investment markets with the Indigenous economy, offering accessible, patient debt finance to support Indigenous businesses and address racial inequity in Australia’s finance sector.”

FAC thanks Arnold Bloch Leibler (ABL) led by Genevieve Sexton and Jason van Grieken, and our fund advisors Brighlight Advisory.

The organisation especially acknowledges ABL who, over many years, has provided expert support to enable them to pioneer new investment models and structures to unlock racial equity in mainstream markets.

Menchie Khairuddin

| Website

Menchie Khairuddin is a writer Deputy Content Manager at Akolade and content producer for Third Sector News. She is passionate about social affairs specifically in mixed, multicultural heritage and not-for-profit organisations.