Australian social purpose organisation Good Return, has launched its second Impact Investment Fund, targeting A$10 million to help address the systemic barriers faced by women-led businesses in accessing finance across the Asia-Pacific region.
The new fund builds on the success of Good Return’s inaugural 2020 fund, which turned a A$1 million investment into A$5.05 million in loans for more than 600 entrepreneurs—90% of them women—in Indonesia and Cambodia. Among them was Cambodian herb farmer Voucheang Loa, who leveraged an A$8,000 loan to construct greenhouses and significantly scale her farming operations. The funding was facilitated by Wing Bank, a key partner in the fund.
De-risk lending
Good Return’s latest evergreen fund seeks capital from Australian wholesale impact investors, with a minimum investment of A$20,000. It will provide loan guarantees and de-risk lending by financial institutions supporting women-led businesses in countries including Fiji, Cambodia, Nepal, Indonesia and Papua New Guinea.
The initiative aligns with the Australian Government’s International Development Policy and its Indo-Pacific NGO Blended Finance Accelerator. It also responds to United Nations Secretary-General António Guterres’ call to unlock finance that prioritises equality.
Peter McMullin, co-founder and chair of the Good Business Foundation and an investor in the first fund, said, “Entrepreneurs and SMEs don’t lack talent, only opportunity… this is why my Foundation has and will continue to invest in Good Return’s Impact Investment Fund.”
Beyond capital, the fund includes grant-supported training to address gender discrimination within financial institutions. The first fund trained nearly 3,000 financial sector employees in gender-inclusive practices.
To learn more or invest, visit: https://goodreturn.org.au/impact-investing
Case Study - Female herb farmer and Wing Bank client, Voucheang Loa, is building a sustainable future for her family
At 42 years old, Voucheang Loa, a small-scale farmer in rural Cambodia, has strengthened her family’s livelihood with the help of a loan from Wing Bank, backed by Good Return’s Impact Investment Fund. Despite her business acumen, women like Voucheang are considered risky investments by financial institutions - particularly as they lack collateral. With Wing Bank’s loan product derisked by Good Return’s guarantee, it was able to take on Voucheang as a client, and recognise her capacity to make loan repayments through her income generation and years of business experience.
Voucheang was able to utilise an AU$8,000 loan to construct two greenhouses for herb cultivation and invest in seeds and materials. This meant she could expand her business from just one rice harvest annually, to three Chinese curly cabbage fields and six cycles of crops in the one year. It has also ensured she is building a more resilient business, with her greenhouses protecting seedlings from increasingly varied weather patterns.
The funding has dramatically increased her income and financial stability. Voucheang’s profits are used to support her children's education, with one child now a second-year college student in Phnom Penh and another in high school. Her husband works alongside her in the greenhouse, demonstrating the family’s dedication to building a better future.
“The initial funding provided by Wing Bank and with Good Return’s support has changed the tide for our family. We’ve been able to shore up our business so it is sustainable and profitable and we have a much brighter future as a result,” Voucheang shared.
Voucheang’s story exemplifies how inclusive financial practices and strategic investments can empower rural entrepreneurs, foster economic resilience, and create generational opportunities.