Heritas Capital presents 2023 Impact Report – its 3rd edition – celebrating 10 years building up our impact investment platform
03.07.2024

Heritas Capital presents 2023 Impact Report – its 3rd edition – celebrating 10 years building up our impact investment platform

We are pleased to present our 2023 Impact Report, titled “Celebrating Our 10-year Journey Building Asia’s Multi-fund Impact Investment Platform”.

Over the last decade, successive generations of the Heritas team have worked to demonstrate the integration of impact and value creation as our investment practice, establishing our track record from origination to exit, over sometimes challenging business cycles. Please see our 2021 and 2022 Impact reports sharing our experience for those years.

In this report marking our 10-year journey, we are pleased to celebrate in March 2023 the successful first close of our Asia Impact First Fund (AIFF)  at over US$20 million, with DBS Foundation as our knowledge partner to pioneer impact-first investing for Asia. Following the first close of AIFF, we proceeded to complete our first impact-first investment, made into Bettr Pte. Ltd. (“Bettr”), the first B-Corp in Southeast Asia and a leading Singapore-based social enterprise operating a specialty coffee and beverage business that supports marginalised individuals and youth-at-risk, to scale its business and impact. More details are shared in the report.

We also highlight a case study sharing Heritas’ track record and experience in impact and value creation, leading to the conduct of a responsible exit pertaining to the sale of Timberland Medical Centre (TMC), a leading private medical centre in Kuching, Sarawak (which was majority owned by Heritas since 2016 in a buyout deal) to IHH Healthcare in August 2023. We asked ourselves how impact investors should conduct an exit responsibly, and were pleased to design and execute impact investing processes from origination to exit after a 7-year holding period.

We hope you find this report highlighting our practitioner perspectives interesting and enjoyable to read and we look forward to joining hands on the exciting and fulfilling journey of impact investing for the next decade and beyond!

Download our report here: Heritas Capital Annual Impact Report FY2023