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Scaling Investments into Social Impact Event Summary

  • Writer: Impact Investing Network
    Impact Investing Network
  • 3 days ago
  • 7 min read

On 15 May 2025, we brought over 70 impact investors, intermediaries, and impact-led enterprises to share their practical insights, experiences and projects - showcasing real examples and co-investment opportunities.


Why? Because solving our most pressing social challenges requires innovative investment approaches. By channeling capital into scalable investment opportunities, we can deliver financial returns alongside transformative outcomes for communities - in ageing well, Māori economic participation and development, and health and mental wellbeing. 



This event on Scaling Investments into Social Impact featured a series of engaging sessions that brought these themes to life through real-world examples and candid discussion. Below are some of the key highlights from each conversation.



The Future of Aging: Investment with Dignity



Ageing populations are growing, and many will die poor without intervention. We explored how impact investing can support vulnerable older adults, including:

  • Investments in ESG-aligned and perpetual funds that enable scale.

  • Use of smart tech (AI, behavioural tracking, GPS) to support independence, reduce hospitalisations, and drive preventative health outcomes.

  • Housing innovations, like intergenerational living (Netherlands, Nelson pilots).

  • Culturally attuned services, ensuring support fits lived realities and preferences.

  • “This is not someone else's problem. Aging is everyone's future. If we want that future to be one of agency, connection, and wellbeing - then we have to build it. And we have to fund it. The decisions we make now define the lives we’ll live later”- Angela Edwards

  • The call to shift narratives: from older people as a burden, to holders of solutions and wisdom.

  • Strategic philanthropy combined with impact capital can help redesign systems for aging with dignity. Investors must ‘put assets to work hard’ and fund with prevention, personalisation, and dignity at the core.

  • New Zealand is rapidly becoming what’s known as a super-aged society, a country where more than 20% of the population is over 65. We’ll hit that milestone by 2034.

  • Globally the ageing challenge is even worse in many countries. Kodokushi is Japanese for ‘A lonely Death’, a widespread problem when someone dies alone and remains undiscovered for an extended period of time. Almost 60,000 people aged over 65, died alone at home in Japan last year. South Korea is experiencing the same incredibly concerning epidemic.

  • The Selwyn Foundation announced its first impact investment, an equity stake into Elli Cares, read more.



Global perspective: Outperforming non-impact investments with a portfolio approach

Paul Ramsay Foundation: Ben Smith, Head, Impact Investing


Ben Smith, Head of Impact Investing at Paul Ramsay Foundation, dialling into this session on Global Perspective
Global Perspective speaker, Ben Smith, Head of Impact Investing at Paul Ramsay Foundation.
diagram depicting Paul Ramsay Foundation's Spectrum of Capital

Paul Ramsay Foundation (PRF), Australia’s largest private foundation, is an impact investing leader in Australia, applying a ‘total impact approach’ across its portfolios. PRF has committed $150m to impact investments. In addition, $60m has been committed to impact-first investments through its evergreen fund. 


Integral in delivering PRF’s impact investment approach is Ben Smith, who shared his expertise and experience in both the Australia and UK markets, including:  


  • 10% of the endowment is committed to impact investments, aiming for a 3.5% return (CPI adjusted). Over the last months, impact investments have outperformed non-impact investments. 

  • Strategy balances risk-tolerant early-stage funds, longer-term plays, and pathways into the core endowment.

  • Build the pipeline and contribute to the ecosystem through its grant base (e.g. feasibility grant to get investment ready), align board and advisors early. Build credibility with the Board and Investment Committee through mirroring reporting of impact investments and non-impact investments.

  • PRF uses its asset base to invest and build capability of impact fund managers e.g. community led, including supporting operational costs, that derisks and attracts co-investment, adding a multiplier effect, sometimes 35x of PRF’s initial investment.

  • Notably, their Indigenous-led investments used grants and blended finance to build capacity and launch a now-$18m fund from $6m investment, showing that impact and inclusion can scale with the right structure and patience.

  • Shifting large-scale endowments takes time, but showing early proof points and reporting like “traditional” investments helps de-risk and build credibility.

More insights on PRF’s total impact approach, including process for getting approval to update IPS. Also, a transparent review of impact and financial performance of impact allocation.Spoiler alert, impact allocation outpeforms non-impact investments.



Economic participation and Māori economic development


Panelists Left to Right: David Tikao, David Plummer, Rebecca Barclay, Jamie Newth
Economic participation and Māori economic development panelists left to right: David Tikao, David Plummer, Rebecca Barclay, Jamie Newth

The Māori economy provides an enormous opportunity to catalyse Aotearoa's economy and society. However, how can investment be applied to create high-value jobs and sectors, beyond narrow economic growth measures? How can investments and impact models be reshaped and scaled, to create social impact that benefit whānau and communities? 


This session highlighted what meaningful economic participation can look like — if we let it, and believe in it. With the panel sharing following insights:


  • Iwi are innovating in financial services (e.g., Kiwisaver models), land and marine-based regeneration, and impact-driven investments like seaweed farming and nature credits.

  • Building trust is essential: early engagement, aligning with aspirations, and shared pilots make partnerships work.

  • Funding models must consider capability and operating cost needs, not just equity or returns.

  • Investment with Māori must be relational, place-based, and recognise intergenerational impact. Discover aspirations early. Metrics of success need to reflect cultural and community definitions of value.



Health and mental wellbeing


Panelists Left to Right: Emily Preston, Caroline Quay
Health and mental wellbeing panelists left to right: Emily Preston, Caroline Quay

Impact in health is fundamentally intergenerational and cumulative, requiring longer time horizons and patient capital. Are we ready to develop investment vehicles and partnership models that value cumulative return - on wellbeing, resilience, and systems cost-avoidance -  as much as immediate outputs?


Impact challenges us to redefine value, not just measure it differently. The panel sharing following insights:


  • Emily introduced us to the mental health space which exposes the limits of traditional value models. What counts as success? Stability, participation, cultural connection, or healing? These are not always quantifiable, yet they are essential to societal resilience. 

  • Mental health remains deeply underfunded — especially in innovation. Barriers include fear of failure, harm, and the absence of infrastructure for high-risk early investment.

  • Mental health remains deeply underfunded, especially in innovation. Barriers include fear of failure, harm, and the absence of infrastructure for high-risk early investment.

  • Principles for investing in mental health and wellbeing innovation: Value lived experience; commit to a relationship; aim for safe, effective and courageous; embrace systems.

  • Caroline challenged that the different risk we take in impact is also a different belief about where value lies, who defines it, and how it is sustained over time. This isn’t just a shift in metrics, it’s a shift in mindset.

  • AI is advancing diagnostics, 3D mapping, remote consultations, and drug discovery - all with huge equity and access potential.

  • Cure Kids Venture is showing how grant-to-investment pipelines (product to company to seed) can drive scalable change.

  • We must overcome the binary between grantmaking and investing. Many innovations die not because of merit, but because capital is impatient, and infrastructure is missing.



Collective Actions 

"To reap a return in ten years, plant trees. To reap a return in 100, cultivate the people" - Ho Chi Minh
Tan Huynh talks about collective next steps

Tan Huynh, Manager, IIN asked participants - How can we take more deliberate, collective and critically sustained action together? 


We are still in Phase 1 of Aotearoa’s Impact Investing Story. This growth in scale has come from an explosion of impact funds and investors entering the sector. There have been increasing specialisations in investment themes e.g. housing, climate, decarbonisation, agriculture-based emissions, and social outcomes. But. We need other players to enter the market and complement the existing players. 


Here are some ideas for action - get involved with the IIN!:


  • Capital needs to shift, deals need to be made - for latest deals visit IIN - recent deals.

  • Establish an Impact Fund into Social Impact: Seeded by endowments sector, managed for financial and social return, to seed and scale ventures, which is sector and community-led, Government pays for outcomes achieved. There are similar funds established e.g. Bay of Plenty Housing Equity Fund.

  • More capital from private markets flowing into impact investments from KiwiSaver providers, banks, managed funds, wealth managers, and private equity.

  • Once we’ve made the decision to pursue impact investing. The next step is to be shown how. Knowledge should be shared, made accessible, open-sourced. We learn by doing and from each other. Terri Eggleton and Tan Huynh have started work on OpenSourceII, a project to share practical tools and templates to capture Aotearoa’s impact investing knowledge into a practical handbook.

  • Build ecosystem and pipeline (through grant base): To attract investment and talent into our sector, and deliver programmes to grow capability e.g. Akina’s Impact Investment Readiness Programme.

  • Partner and co-invest e.g. working with iwi, central and local government.

  • What themes can we converge practitioners on e.g. Maori economy, biodiversity, blue oceans, deeper dive into themes we explored today. We sold out the room today, in the future can we sell out a stadium, filled with impact practitioners?



Farewell - surprise Tan!

After over 4 years, it was Tan’s last event and week at IIN. So Alastair Rhodes (Chair) and Katie Beith (former Deputy Chair) surprised him with a special gift. 


Pearl Philavong (Community Advisor) had been busy putting together messages from our investing community the impact Tan has made, and the legacy he has built. 


Coming in at its inception, Tan has been instrumental in starting and scaling initiatives to accelerate development of the impact investing sector.




Looking for the slides from the Scaling Investments into Social Impact event?

Access them using this link.





A special thanks to our event organisers:

  • Ākina: Aotearoa New Zealand’s leading impact consultancy. We’re working to create a world where positive social and environmental outcomes are a normal part of doing business.

  • Impact Investing Network: A peak body that connects, educates and advocates to grow the impact investing sector and transition to a sustainable Aotearoa New Zealand.

  • The Selwyn Foundation: A registered charity which champions initiatives that enable respectful ageing for disadvantaged older people. Having divested 50% of its retirement village holdings in 2022, the Foundation has returned to its core purpose and, in its new capacity as a funder and co-investor, looks to partner with others to deliver social impact at scale. 

  • Forsyth Barr: Our wonderful venue hosts and a world-class team of advisers, delivering innovative financial services and investment opportunities, supported by award-winning local and global research.

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