Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Alibaba-Backed MYBank Eyes Deeper Penetration Into Under-Banked Rural China
Vivo and Oppo Claim Top Two Spots in China Smartphone Market as Huawei Falls
U.S. Urges TSMC to Prioritize Supplies to American Carmakers Grappling with Global Chip Shortage
Indonesian Ride-Hailing Unicorn Gojek Aims to Go All Electric by 2030
Tencent-Backed Insurtech Firm Waterdrop Aims to Raise up to $360 Million in U.S. IPO
Which Money-Losing Electric-Car Makers Have Tied Up With Huawei?
Video Platform Bilibili to Buy Stake in Mobile-Game Maker CMGE to Boost Content
Baidu to Roll Out Driverless Robotaxis in Beijing in May
Tesla Challenger Nio Shrinks Losses as Sales Surge
Trending in China: A Beijing Bureaucrat Worked as Delivery Driver for a Day and Earned Just $6
Fjord Focus: Why Are Chinese Electric-Car Makers Flocking to Norway?
Alibaba Has Big Plans for Taobao’s Livestreaming Hawking Business
Xiaomi Extends Reign as India’s Smartphone King Despite Slipping Market Share
Self-Driving Truck Startup Plus to Develop Natural Gas-Powered Vehicle With U.S. Engine-Maker
China’s Origin Space Launches Prototype to See How Well It Cleans Up Space Junk
Trending in China: Is Bubble Tea for Tesla Really Such a Bad PR Effort?
TikTok to Set Up European Transparency Center to Ease Data Security Concerns
Agricultural Drone Upstart EAVision Raises Fresh Capital to Fund Challenge to Sector Leader
Lizhi Partners with Electric Carmaker to Create Branded Podcast Service
Toyota Buys U.S. Ride-Hailing Firm Lyft’s Autonomous Driving Unit
Danish Pension PBU Backs First Close of New SE Asia-Focused Women’s Fund

By DealStreetAsia / Jan 18, 2021 03:11 PM / World

Danish pension scheme Paedagogernes Pension (PBU) has become the cornerstone investor in the official launch and first close of the Southeast Asia-focused SEAF Women’s Economic Empowerment Fund (SWEEF), according to an announcement.

PBU, the occupational pension scheme for early childhood teachers and youth educators, said it committed 100 million Danish krone ($16.2 million) in SWEEF, which has a women-centered, Southeast Asia-focused investment strategy primarily in Vietnam, Indonesia, and the Philippines.

SEAF, a global impact investment fund manager, will manage SWEEF. SEAF said it was able to launch the fund with financial support from the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the regional development arm of the UN, and Global Affairs Canada (GAC).

The fund follows the success of the SEAF Women’s Opportunity Fund (SWOF), which has invested in six women-led and/or women-owned businesses in Southeast Asia, including Ellana Cosmetics, a Philippine-based cosmetics startup.

Globally, SEAF has invested in over 400 companies in 29 countries.

SWEEF will invest in women entrepreneurs as well as businesses operating in sectors where women comprise a large portion of the labor force and those where the leadership demonstrates a strong commitment to gender equality and wider diversity.

“The investment into SWEEF has a clear link to our strategy for responsible investments, where we focus on empowering women and strengthening gender equality,” said PBU CEO Sune Schackenfeldt.

The $18-billion Danish pension fund is already a significant investor in microfinance and financial inclusion in a European context, where the main target group was also women.

“Women in developing countries are the foundation of the family. With investments that have a special focus on women’s conditions, we strengthen their employment, earnings, and opportunities for social and economic advancement,” Schackenfeldt added.

SEAF said SWEEF’s social focus investment is closely linked to the UN’s Global Goals for Sustainable Development.

In August last year, SEAF made its second investment in the Philippines in CloudCfo, a technology-driven provider of outsourced accounting, bookkeeping, and financial services for startups.

SEAF invested in CloudCfo through its SEAF Women’s Opportunity Fund. Its first investment in the Philippines was in Ellana Cosmetics in March.

Contact editor Marcus Ryder (

Related: Female Innovators and Social Responsibility (Video)

Share this article
Open WeChat and scan the QR code