A Temasek-backed fund aims to foster growth in impact investing in Asia by striking deals that can do good while still generating a commercial rate of return.

ABC World Asia Chief Executive Officer David Heng outlined his vision for the $405 million impact investment fund in his first interview since taking the role at its inception in 2019. “If I can make good returns and make good impact then hopefully this will become more and more mainstream,” Heng said.

The fund is one of several vehicles Singapore state-owned investor Temasek Holdings Pte is using to pump money into a category of finance that aims to improve environmental, social and governance goals while still making a profit. Earlier this month Temasek entered a US$500 million ($672.5 million) partnership with impact fund manager LeapFrog Investment.

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