#29 GKC | 🚺 Women Empowerment in Southeast Asia

Happy Friday! Few more weeks to the year end. Enjoy time with self and family!

Continuing our Know Your Investors Series, in collaboration with Turbo Net Zero.

Turbo Net Zero is a pure-play sustainability consultancy company focuses on delivering ESG value-creation solutions for corporates and investors.

We’ll discuss about the evolving field of impact investing across Southeast Asia in three parts.

1. Overview of global impact investing frameworks

2. Sector-specific impact themes within SEA (Today’s Episode)

3. Case studies of successful impact investors and companies in SEA

Let’s get started!

Navigating Gender Equality & Women Empowerment In Southeast Asia

Gender Lens Investing (GLI)—an investment approach that considers gender-based factors across the investment process to promote gender equality while enhancing decision-making.

According to data from 2X Global and Sagana, as of June 2023, funds investing with a gender lens have achieved assets under management (AUM) of at least USD $7.9 billion. 

Despite challenging fundraising conditions, the market has demonstrated resilience, with both AUM and the number of gender-focused funds on the rise since 2021. Additionally, current fundraising efforts indicate an investment opportunity of at least USD $6.2 billion. 

Within the landscape of emerging markets, ASEAN is emerging as a compelling choice for gender-focused investors, ranking among the top four geographies for GLI alongside Sub-Saharan Africa, East Asia, and Latin America. While Sub-Saharan Africa leads the pack with 43% of funds targeting the region, Southeast Asia is setting itself apart by attracting more commercially driven gender lens investments.

The growth of GLI in Sub-Saharan Africa and Latin America is largely driven by development banks offering concessional financing, attracting funds to these regions. While in contrast, Southeast Asia’s GLI market is more competitive, where funds focus on differentiated deal flows to gain competitive edge. Notably, private market funds in Southeast Asia have already seen several commercial success with GLI strategies.

Unlocking Gender-Lens Investing Opportunities in Southeast Asia

i. Energy

Currently, around 70% of households in Southeast Asia have access to cleaner cooking solutions, such as liquefied petroleum gas (LPG) and improved cook stoves.

However, significant disparities exist across countries. In Malaysia and Singapore, nearly all households use clean fuels for cooking. Vietnam, Indonesia, and Thailand have also made notable progress, with over 60% of their populations now relying on healthier cooking fuels.

In contrast, in less developed countries like Lao PDR and Timor-Leste, the percentage of households using clean cooking fuels remains as low as 20%. Many households in these regions still rely on traditional fuels such as charcoal, wood, or kerosene, which expose residents—particularly women—to harmful fumes, increasing the risk of respiratory and cardiovascular diseases.

According to the International Energy Agency’s (IEA) 2024 Southeast Asia Energy Outlook, without targeted investment, the region would still fall short of its goal to provide access to clean cooking for all by 2030.

ii.  Healthcare (FemTech)

FemTech, short for female technology, encompasses innovative solutions and digital tools tailored to women’s health needs, ranging from virtual healthcare platforms and wearable devices to specialized apps and services. These solutions address health challenges that predominantly or uniquely impact women. 

In 2022, Southeast Asia was home to 71 femtech companies, representing an annual growth of over 70% compared to 2021. Leading this expansion, Singapore hosts 32 companies—a 45% increase from the previous year—followed by Malaysia, which has risen to second place with 12 companies. The sector is also experiencing steady growth in countries like the Philippines, Thailand, Indonesia, and Vietnam.

Despite this progress, cross-country disparities still exist. Cambodia, Laos, and Myanmar, for instance, have yet to see FemTech enterprises emerge, likely due to a continued focus on essential public health needs, such as improving access to period products. For forward-thinking investors, this gap presents an opportunity to enter the market early and take on pioneering roles.

Investment Landscape in Southeast Asia

Notable Gender-Lens Investors

• Sweef Capital: SG-based women-led impact investment firm focusing on sectors where women play a significant role including health, education, and sustainable food systems. 
  

• Beacon Fund: Southeast Asia's first private debt fund dedicated to promoting gender equality and positive social impact

Notable Gender-Lens Companies

• Blood SG:  Blood is an innovative period care company focusing on thoughtfully designed menstrual products.

• Vilo Gelato: Vilo Gelato is an ID-based gelato brand, prioritizing women empowerment by partnering with local women-owned suppliers.

Key Takeaways

Aligned with the ASEAN Community Vision 2025 and the United Nations 2030 Agenda, GLI is focusing on supporting women are now emerging in diverse sectors including clean energy, healthcare (notably femtech), infrastructure, and education.

Again, thank you Turbo Net Zero for this amazing content collaboration. (Check out our other collab content!)

If you are an impact investor looking to implement ESG strategies OR corporates exploring impact measurement strategies, hit Kenny up!

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Hope this is helpful! 🙂 

Feel free to reach out via LinkedIn or email if you have more questions.

References

• GLI Landscape 2019

• UN SDG Global database

• Clean Cooking Access Data

• IEA Energy Outlook 2024

• Project Catalyst: Tracking gender lens investing

• United Nations Asean Gender Outlook 2024

• Gender Lens Investing in Southeast Asia: Literature review

• Fermata

• Clean Cooking Alliance

• Growing Femtech Investment Brings Solutions to Underserved Women’s Health Challenges

• SWEEF Capital Impact Report 2023

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