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First Close of our Fund

First Australians Capital announces the successful first close of its Catalytic Impact Funds from a range of long-standing and new investors  

SYDNEY, Australia – 18 June 2024: First Australians Capital (FAC), the only First Nations-led national business advisory and impact fund for Indigenous entrepreneurs in Australia, has today announced the successful first close of the FAC Catalytic Impact Fund. 

FAC secured nearly $20 million in investment from a range of diverse global and domestic investors. 

Managing Partner Brian Wyborn acknowledges the early backers and long-standing cornerstone investors Paul Ramsay Foundation, an anonymous Melbourne-based trust, and the Cages Foundation. Earlier this year, FAC also welcomed the VISA Foundation’s $2 million commitment to the Fund and a $3 million commitment from Block through its Australian subsidiary, Square.  

A number of Australian foundations and family offices, including The Snow Foundation, Wyatt Trust, Tripple, Salt Catalyst, Small Giants and the AMP Foundation, have also confirmed their financial commitment to support Indigenous businesses and help drive economic empowerment and self-determination within Indigenous communities.  

“First Australian Capital’s commitment to backing Indigenous-led organisations and providing mentorship addresses systemic barriers, empowering a resilient First Nations business community,” said Georgina Byron, Chief Executive Officer of the Snow Foundation. “Our investment in FAC aims to foster self-determination, economic independence and a more inclusive, caring and prosperous future for Indigenous Australians, aligning to the strategic vision of The Snow Foundation.”  

As Australia’s only First Nations-led and controlled fund manager, FAC has been operating a $13 million concept fund since 2021 and has deployed $11.4M as of 30 March 2024. The Catalytic Impact Fund connects investment markets with the Indigenous economy, offering accessible, patient debt finance to support Indigenous businesses and address racial inequity in Australia’s finance sector. It focuses on diverse, impact-driven investments into Indigenous-led businesses that create long-term social and environmental impact for Indigenous businesses and communities. 

The Fund Investment Committee is chaired by Indigenous business and community leader Jahna Cedar, joining her are corporate leaders Tim Barber and Dan Porter, together with representatives of First Australian Capital. 

“We’re thrilled to announce the first close of this fund, bringing together values-aligned investors and change-makers committed to accelerating positive change and empowering Indigenous businesses and communities across Australia,” said Brian Wyborn, Managing Partner of First Australians Capital. “This fund connects investment markets with the Indigenous economy, offering accessible, patient debt finance to support Indigenous businesses and address racial inequity in Australia’s finance sector.” 

We would also like to thank Arnold Bloch Leibler (ABL) led by Genevieve Sexton and Jason van Grieken, and our fund advisors Brighlight Advisory. We especially acknowledge ABL who, over many years, has provided expert support to enable us to pioneer new investment models and structures to unlock racial equity in mainstream markets.  

About First Australians Capital  

First Australians Capital (FAC) is a national First Nations-led fund manager and business advisory organisation that connects investment markets with the Indigenous economy. It offers accessible, patient debt finance to support Indigenous businesses and address racial inequity in Australia’s finance sector. FAC focuses on diverse, impact-driven investments into Indigenous-led businesses that create long-term social and environmental impact for Indigenous businesses and communities.  

Indigenous leadership at its core 

First Australians Capital (FAC) has distinguished itself as the first fund manager in Australia to be led and controlled by Indigenous leadership. The organisation’s leadership comprises a majority Indigenous board, executive team, and equal representation on the Investment Committee, ensuring authentic governance and direction.  

With Managing Partner Brian Wyborn at the helm, FAC is dedicated to driving positive change and scaling the Indigenous business sector. Their leadership underscores their commitment to Indigenous self-determination and economic empowerment. 

The FAC Catalytic Impact Fund 

The FAC Catalytic Impact Fund is a strategic tool designed to bridge the gap between investment markets and the Indigenous economy. It offers accessible, patient debt finance to support Indigenous businesses, with key highlights including: 

  • Access to Indigenous Economy: The fund aims to bridge the financial gap by offering accessible, affordable, and flexible finance to Indigenous businesses. 
  • Empowering Indigenous Businesses: Providing essential support, knowledge, and resources to help Indigenous businesses thrive. 
  • Market-Building Focus: Aiming to address racial inequity and create investment opportunities for Indigenous businesses. 
  • Diverse Portfolio: Investing across various industries, leveraging Indigenous competitive advantages such as native foods and renewable energy. 
  • Impact Focus: Committed to stimulating economic activity and empowering Indigenous communities. 
  • Transparent ESG Screening: Emphasizing Indigenous rights, economic self-determination, and Just Transition processes. 
  • Support for Women-Led and Regional Enterprises: Proactively investing in women-led businesses and enterprises in regional and remote areas. 
  • Concessional Returns: Targeting net returns in the 0-4% range, focused on capital preservation for impact-oriented investors. 
  • Excluded Industries: Avoid investments in tobacco, gambling, and controversial weapons manufacturing industries. 
  • Patient Finance Products: Offering tailored finance products, including working capital and term loans for early-stage and growth investors. 

Regular Impact Reporting: Committing to transparent impact metrics reporting, including reports on key investments and thematic analysis linked to the Sustainable Development Goals.

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