Southeast Asia is rich with opportunity

Its population of 662 million is young, with a median age of 27. 50 million new consumers will join the 300-million strong middle class in Indonesia, Malaysia, Philippines, Thailand and Vietnam by 2022, adding to the region’s $300 billion middle-class disposable income. The growth of Southeast Asia’s $100 billion internet economy is accelerating at an unprecedented pace, more than tripling in size over the last four years

At the same time, the region faces sobering social and environmental challenges that echo those being witnessed across the world. Poverty and broader inequality remain urgent issues. Populations have scattered access to basic services such as health and education. Life expectancy and nutrition in many areas lag global standards. The scale of these issues is significant. Over 70 million or more than 10% of Southeast Asia’s population lives below national poverty lines; and infant mortality averages 19 per 1,000 births, three times that of the United States. Southeast Asia’s long coastlines and heavily populated low-lying areas also make it one of world’s most vulnerable regions to climate change and the region has an imperative to upgrade its forest conservation, water quality and agricultural practices.

Openhand

As a leading Southeast Asian fund, Openspace Ventures accelerates the expansion of companies focused on solving some of the biggest issues facing society.

Openspace Venture Capital Southeast Asia Gojek

We invest responsibly

We commit to work with potential and existing portfolio companies to assess and manage environmental, social and governance (“ESG”) risks and opportunities at defined stages of the investment process, from screening to exit. We are of the view that the judicious management of material ESG risks can lead to better investment decisions, as well as to superior financial returns for the companies we invest in.

We believe that great investments enable great impact

We commit to measuring and driving impact in support of the 17 Sustainable Development Goals (“SDGs”) and the 169 associated targets outlined by the United Nations in its 2030 Agenda for Sustainable Development.

We are aligned with leading global stakeholders

Our standards are also progressive in nature, recognizing that some portfolio companies may be in the early stages of growth – where private capital is most needed to drive impactful business models – and may require more time and guidance to implement systems for accurate and comprehensive ESG and impact tracking and measurement.

Environmental, Social and Corporate Governance

ESG factors have always been an integral part of our investment process.

We are continually upgrading the comprehensiveness and structure of our ESG considerations in line with our investment process, and primarily take reference from the International Finance Corporation’s (“IFC”) Performance Standards and Corporate Governance Methodology.

In developing our exclusion list, we have also referenced the IFC’s exclusion list, as well as the exclusions adopted in the Harmonized European Development Finance Institution (EDFI) List.

Impact

Openspace has impact firmly embedded in our portfolio

Our existing portfolio companies, such as Gojek, Halodoc, Topica and Biofourmis, are already solving important problems in their respective geographies and improving the lives of many. They are driving financial inclusion, creating decent work, accelerating sustainable agriculture and expanding access to healthcare and education across underserved populations in Southeast Asia, in support of the 17 SDGs set out by the United Nations.

Openspace’s sector-agnostic investment strategy means we have a diverse portfolio spanning a wide range of industries including finance, education, health, agriculture and energy. This gives us the opportunity to drive impact across many of the SDGs. We think there is great value in measuring and improving the impact of our portfolio companies to these global goals in order to reduce harm and increase positive contributions in the long term.

Giving Back

We have a responsibility to contribute to the communities we live in

As a team of diverse individuals with varied backgrounds, we are deeply passionate about fixing inequality, and understand how important it is to extend a helping hand to create opportunities for those with limited access to resources.

In addition to building up companies that help to solve fundamental challenges faced by societies we therefore also actively engage in initiatives across Southeast Asia to elevate the communities and ecosystems that we operate in.

We work with Aidha on supporting money management and business education for foreign domestic workers, and volunteer as mentors with Mentor for Hope and SFF Pays It Forward, an initiative of the Singapore Fintech Festival 2020.

In 2020, in response to COVID, we launched #supportstartups, an initiative to provide a boost in revenues to startups together with 500 Startups and Cocoon Capital. With the support of generous sponsors we also partnered with Grain to deliver 3,000 meals to healthcare workers deployed to enhance COVID-19 testing for migrant workers in Singapore; and contributed to Sumbang Suara, a campaign supported by Gojek and Kitabisa in collaboration with SLANK and Yayasan Anak Bangsa Bisa, with proceeds going to daily income earners in Indonesia whose livelihoods were affected by COVID-19.

For more information on our policies, please get in touch

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