Asian Social Investment and Charity Network (AVPN) officially launched the ImpactCollab platform on Friday (June 27), assisting members, funders and wealth and charity consultants to find, evaluate and connect trustworthy public welfare organizations more conveniently.

AVPN said that private wealth in Asia is growing rapidly, and it is expected that by 2027, there will be more than 230,000 ultra-high net worth individuals in Asia, with about 2,000 family offices in Singapore alone, with assets under management of up to US$1.2 trillion (S$1.5 trillion). However, although many funders are interested in charity, they are often discouraged by the lack of credible information and cross-border compliance.

In this context, ImpactCollab provides a trusted platform for family offices, private banks and new donors to assist them in doing background checks before donating and reducing the reputation and compliance risks associated with supporting improper organizations.

This platform has been supported by the Monetary Authority of Singapore (MAS) and the American rich Bill Gates Foundation, bringing together more than 400 due diligence-based influential institutions. The platform also introduced the “Governance Maturity Assessment Framework” developed by Singapore Management University as a standardization tool for evaluating institutional performance and improving transparency.

AVPN is Asia's largest social investment network, covering 33 markets, more than 600 funders and resource providers. It has long been committed to promoting the effective flow of financial, talent and intellectual capital in the region.