The private sector is stepping in to back Aboriginal entrepreneurs with a new $500 investment infrastructure fund.
Chris Croker, a Luritja man from Central Australia, and MD of Impact Investment Group launched the Indigenous Infrastructure Investment Fund last week to mark National Reconciliation Week.
The fund hopes to invest $500 million over five years in 15 to 20 projects supporting Indigenous infrastructure.
“The launch of the fund is an important step towards increasing Indigenous direct economic engagement through employment, procurement and leasing from Indigenous landholders and will be a trusted investment vehicle for long-term investments that align the interests of financial investors, private developers and Indigenous communities,” Croker said.
“My vision is that the fund will improve Indigenous economic participation and access to infrastructure services such as reliable electricity, clean and safe drinking water, improved health care and better access to quality education and act as a catalyst for addressing the long-term disadvantage of Indigenous people.”.
Impact Investment Partners director Janice Morris said the fund offers investors the opportunity to generate financial returns and fund Indigenous infrastructure to create a lasting positive change for Indigenous Australians.
“The Fund will only consider investments that generate significant Indigenous economic and social benefits and market-based financial returns to meet the fund’s dual objectives,” she said.
Details on the Indigenous Infrastructure Investment Fund are available here.
Simon is editor of Startup Daily.
He was previously Associate Editor of Business Insider Australia and before that a full-time restaurant critic, editor of The Good Food Guide, and a newspaper proprietor, having spent more than 25 years in journalism and publishing.
He chaired industry lobby group Australian Business Ltd's (now the NSW Business Chamber) environment committee during the Kyoto agreement era.
SUBSCRIBE TO THE StartupDaily
- Kogan.com just had its best Christmas trading, but its shares are getting smashed as profit growth slows under News & Analysis
- Here's what Australian startup founders are expecting to see in tech in 2020 under Opinion
- Shark Tank hit Rhinohide is now chasing $500k from crowdfunding under News & Analysis
- Shark Tank Australia actually delivered some really important home truths in its premiere episode under News & Analysis
Daily startup news and insights, delivered to your inbox.