VENTURE PHILANTHROPY NETWORK TO LAUNCH IN SINGAPORE
The Asia Venture Philanthropy Network (AVPN) plans to help the venture philanthropy (VP) space across Asia grow with its new Singapore-based platform set to launch in 2012. According to AVPN, experience, capital and knowledge exchange between its members can multiply social impact. Why does AVPN believe Asia is more than ready for VP and impact investing?
The Asian Venture Philanthropy Network (AVPN) has established itself in Singapore to bolster the ecosystem of venture philanthropy, which adopts techniques from venture capital to achieve philanthropic goals. The network aims to bring together practitioners, private equity firms, the broader financial investment community, foundations, private banks, family offices and businesses in Asia.
“It’s very important that private investors, donors and the private sector play an active role in developing the social sector,” says AVPN Advisor and CEO Simon Chadwick. “The cross-fertilization of experiences, sector knowledge and capital along with hands-on engagement can multiply social impact.”
The AVPN model is based on its sister organization, the European Venture Philanthropy Association (EVPA). EVPA is a membership association comprised of organizations interested in or practicing venture philanthropy in Europe and was established in 2004. AVPN ramped up its operations in Singapore this year and is set to launch officially in 2012, with country offices in Japan and India.
“There is a rapid growth in social enterprise and philanthropy taking place,” says Chadwick of the Asia market. AVPN has been pleased with the level of interest in VP in the region, and predicts that new funds will form in the future both in Singapore and the wider ASEAN region.
With the support of networks like AVPN, the social enterprise investment market has strong potential to grow and be effective in the Asia Pacific region. AVPN plans to have direct representation in China and other countries over the next several years as its membership continues to grow.