Unlocking Catalytic Capital in Australia

This report, developed by GoodWolf Partners for the Paul Ramsay Foundation, examines the emerging role of catalytic capital in Australia's impact investing market. Drawing on international research, local case studies, interviews and a market survey, it aims to build a shared understanding of what catalytic capital is and how it unlocks investment that would not otherwise occur.

The report explains how catalytic capital works, absorbing early risk or accepting lower returns so other investors can follow, and sets out the roles government, philanthropy, institutional investors and intermediaries can each play. It finds Australia's catalytic capital market remains small and concentrated despite the country's substantial private wealth, and identifies the environment, affordable housing and First Nations communities as consistently underserved.

It's useful for philanthropic foundations, investors, intermediaries and policymakers interested in how catalytic capital can help close Australia's social and environmental investment gap.