IIX Women’s Catalyst Fund

Driving Women’s Economic Empowerment at Scale

Empowering over 13 million underserved women across Asia

In 2017, IIX made history by launching the world’s first gender-lens, impact investing security listed on a stock exchange, the $8.5 million Women’s Livelihoods Bond™ 1 (WLB™ 1).

Supporting the successful replication of the Women’s Livelihood Bond™ (WLB™) Series, the IIX Women’s Catalyst Fund (WCF) is a de-risking facility that is catalyzing women’s access to capital markets.

The Women’s Catalyst Fund (WCF) is:

Catalyzing 10x private capital

Leveraging US $30 million in public sector funding to mobilize US $300 million in additional funding from the private sector.

Aligning subordinated investor commitment to each Bond issuance

The WCF solves crucial timing challenges with the deployment of capital to support the success of the Women’s Livelihood Bond™ issuances by providing the liquidity needed to smooth out cash flows for seamless distribution.

Accelerating the roll-out and impact of the WLB Series

The WCF significantly reduces the lead time needed to source subordinated debt capital for each WLB™ adding efficiency and enhancing the ability to scale the WLB™ Series.

  • ensures commitment ahead of marketing the bond to private sector investors and

  • establishes a funding channel for a series of bonds rather than a single bond

Partners

Seeded by

Supported by

Enhanced by

Backed by the Taiwan International Cooperation and Development Fund (TaiwanICDF), and the Australian Department of Foreign Affairs and Trade (DFAT), the WCF provides first-loss capital to the WLB Series™ and mobilizes private sector investors by reducing the risk of senior investment into the bonds. The US International Development Finance Corporation also acts as credit enhancement provider, giving private sector investors a partial guarantee of the Loans in each WLB™ portfolio, thereby catalyzing private sector participation in a gender-lens investment that empowers underserved women and women entrepreneurs in developing countries.

Impact

To date, IIX has launched three SGX-listed bonds in the WLB™ Series mobilizing a total of US$48 million.

The ICMA-compliant Social Bond has established a strong track record of meeting its impact targets, having generated US$3 – 4 of social value for every US$1 invested and empowered 815,000 women across Asia-Pacific.