Impact Investment Exchange Asia (IIX) and Shujog Assistance for Capacity-building and Technical Services (ACTS), announced today that Arjuni International Ltd. (“Arjuni”), a social enterprise based in Phnom Penh, Cambodia, for which IIX provided business advisory services through Shujog ACTS, has successfully raised investment capital.

Arjuni secured investment from ICCO Investment, an initiative of ICCO Cooperative, which will allow it to expand its business to meet consumer demand and further deepen the impact it has on its beneficiaries across Cambodia.


Founded in 2009, Arjuni is an ethical supplier, manufacturer and retailer of high quality human hair extensions. Through its operations, the company provides patient employment to women at risk and improves the livelihood of its hair suppliers by increasing their income.

The global hair extension industry is growing rapidly. Among numerous emerging manufacturers and retailers, Arjuni differentiates itself through its commitment to creating lasting social impact for its employees, suppliers and clients. Arjuni’s employees, many of whom were previously victims of sex trafficking and are undergoing rehabilitation and counseling from local NGOs with which Arjuni partners, are economically empowered with training and patient employment to lead a dignified and secure life.

Arjuni abides by a strict code of conduct when sourcing hair, and hair suppliers in rural areas earn additional income from Arjuni to improve the livelihood of their whole family. Arjuni’s customers from developed countries are exposed to development issues in Southeast Asia and become more aware of what they can do to drive positive change.

IIX’s role:

IIX began working with Arjuni in early March 2014 under the Shujog ACTS program. The scope of business advisory services IIX provided included assisting Arjuni in finalizing its investment documents (including its business plan, financial model, and investor presentation) to enable Arjuni to achieve its capital raising goals.

IIX conducted an extensive investor outreach to showcase Arjuni to impact investors through various channels, including Impact Partners – its private placement platform – and Impact Forum – the largest impact investing gathering in Asia – and through direct engagements with relevant investors.

“I did very much appreciate [IIX’s assistance with understanding] valuation. I’m new to this arena and it was very helpful to understand the ways in which an investor might value our efforts to date.”– Janice Wilson, Founder and CEO, Arjuni“

We are thrilled that IIX’s business advisory services have contributed to Arjuni’s successful capital raising. Arjuni’s mission of providing livelihoods for women at risk in Cambodia is one we wholeheartedly support. We look forward to continuing to assist high impact social enterprises like Arjuni as they grow and scale their impact.” – Robert Kraybill, Managing Director, IIX

About Shujog ACTS

Launched in October 2013, Shujog ACTS (Assistance for Capacity-building and Technical Services) is a program of Impact Investment Shujog, a non profit SE based in Singapore dedicated to strengthening, deepening and expanding the impact SEs deliver in poor and vulnerable communities. Shujog ACTS builds the network of private sector intermediaries focused on serving SEs as clients while solving a liquidity problem that SEs face. The program provides a draw-down revolving facility, which covers the upfront costs of investment readiness services for SEs through (1) a reimbursable advance to the SE to procure local and international advisory services: Business Plan, Financial Model, Draft Term Sheet, Val­uation, and Investor Presentation (2) a small subsidy, and (3) a wholly subsidized Impact Assessment. SEs contribute 10% of the costs upfront, and then repay the interest-free advance after the successful capital raise.

This market-based approach to technical assistance provision reinforces the spirit of social entrepreneurship by reducing a SE’s dependence on grants. Additionally, it facilitates more SEs receiving the investment readiness support they need to attract impact investment, grow their operations, and magnify their impact. Shujog ACTS operates throughout the Asia Pacific region in five focus sectors: agriculture, health, education, energy, and water & sanitation. For more details visit

About IIX

IIX is a Singapore-based organization with a mission to provide Social Enterprises (SEs) in Asia greater access to investment capital, allowing them to more rapidly expand the impact of their activities. IIX now offers three investment platforms –Impact Accelerator™, Impact Partners™ and Impact Exchange™. Impact Accelerator™ provides seed-stage SEs with mentorship and private capital through a structured and customized process. Impact Partners™ connects accredited impact investors to selected growth-stage SEs who are looking to raise investment capital. Impact Exchange™, the world’s first social stock exchange operated by the Stock Exchange of Mauritius in collaboration with IIX, is a regulated stock exchange dedicated to listing and trading securities issued by mature SEs and other socially-driven organizations.

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About ICCO Investments

ICCO Investments is an impact fund management company that invests in social enterprises that have a clear social and/or environmental impact combined with a feasible commercial strategy. ICCO Investments is an initiative of ICCO Cooperation, which in turn is an inter-church organization for development cooperation established in 1964. ICCO provides global financial support and advice to local organizations and networks that work for better access to basic facilities, initiating sustainable economical development and enhancing peace and democracy. ICCO is active in 44 countries in Africa, Latin America and Asia

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