Digital wealth platform Arta Finance has partnered Co-Axis, a Temasek Trust initiative, to secure a target of US$30 million ($39.62 million) for impact projects over two years.
According to an Oct 24 announcement, the partnership will expand the reach of Co-Axis projects by leveraging Arta’s client base. Arta’s clients, which include high-net-worth individuals (HNWI) and family offices, will be able to access eight exclusive projects, in addition to all projects listed on the Co-Axis platform.
Co-Axis is a “digital impact marketplace” that connects some 100 projects from over 40 countries with funders, such as family offices, corporate entities, philanthropists, HNWI and private foundations. Co-Axis is a partnership among Temasek Trust, DBS Foundation and UBS Optimus Foundation; it was unveiled on April 15 at the Philanthropy Asia Summit in Singapore.
Headquartered in the US and Singapore, Arta received a Capital Markets Services licence from the Monetary Authority of Singapore in July. Hence, its clients can access not just charitable projects but also debt and equity instruments.
Among the eight projects exclusive to Arta’s clients is Singapore-based Wateroam, a social enterprise that provides safe, potable water to communities in need. Their flagship product, the ROAMfilter Plus, is a portable and lightweight water filtration solution for emergency response and remote deployment across the developing world.
Another project exclusive to Arta’s clients is Coral Vita, which creates high-tech coral farms to restore coral reefs. Based in the Bahamas, their scientific team has created techniques to grow coral up to 50 times faster while boosting their resilience against warmer and more acidic oceans. They then plant these corals back into degraded reefs, bringing them back to life.
See also: Temasek Trust, DBS Foundation, UBS Optimus Foundation launch new digital impact marketplace
Temasek Trust said in April that the projects featured on the Co-Axis platform span social enterprises, impact ventures, non-profit organisations, research and corporates.
It added that a range of financial instruments with a philanthropic focus are available on the platform, including pure grants, recoverable grants and concessionary debt.
Knowledge-building
See also: Arta Finance receives capital markets services licence from MAS; launches in Singapore
In addition to the exclusive projects, Co-Axis says it will collaborate with Arta to conduct webinars and “other engagement activities” for Arta’s clients, aimed at building knowledge in impact and philanthropy.
This could tap on other Temasek Trust ecosystem entities, such as the Centre for Impact Investing and Practices and the Asia Centre for Changemakers. According to Co-Axis, Arta clients will also gain access to philanthropy advisory and management services through TT Foundation Advisors.
Amanda Ong, country director for Singapore, Arta Finance, says: “Asia’s unique demographic and economic dynamics present a particularly important opportunity for delivering impact at scale. The region is facing some of the world’s most significant environmental and social challenges, but it is also home to some of the most innovative solutions.”
Singapore’s Economic Development Board Investment (EDBI) invested an undisclosed sum into Arta Finance this year. According to a Sept 11 announcement, EDBI participated in the unspecified investment round alongside global investors like Peak XV, Ribbit Capital and Coatue.
Ong adds: “As Co-Axis continues to expand, Arta’s private wealth platform will play a key role in amplifying its reach, ensuring that our members have the opportunity to be part of this growing ecosystem and contribute to a more sustainable and equitable future.”
Joycelyn Ong, head of Co-Axis, says impact measurement is at the core of the platform. “Arta members will be empowered to make more informed and strategic funding decisions for the causes they care about. Together, we will harness our combined networks, expertise and resources to unlock the catalytic funding needed to accelerate and scale promising impact projects for a more sustainable tomorrow.”
