Heritas Capital invests SGD 2M catalytic growth capital into Bettr Group

Asia’s impact investment platform Heritas Capital, through its newly launched Asia Impact First Fund (AIFF) with DBS Foundation as its knowledge partner, has made a SGD 2M investment into Bettr Group, a leading social enterprise operating a specialty coffee and beverage business in Singapore which prioritises people, profit and planet and has a robust track record of improving the lives and livelihoods of vulnerable groups in the community. The catalytic growth capital will support both business expansion and Bettr’s social programmes - with the aim to triple the beneficiaries served annually, in collaboration with its ecosystem of social and corporate partners.

“At Bettr, we have used our business as a force for good for over a decade and have strived to produce sustainable financial performance while creating tangible long-term impact on lives. We are excited to partner Heritas through AIFF to expand our vision of social businesses being key actors in the economy to create dual business and impact solutions for an increasingly complex world. We intend to solidify our footprint in Singapore, support more beneficiaries through education and inclusive employment, and eventually scale into the region," said Ms. Pamela Chng, CEO and founder of Bettr Group.

“Bettr is testament to the fact that it is possible to have a positive impact on society while building a sustainable business at the same time. At DBS Foundation, we are privileged to have been a partner on their journey for almost a decade now, and to witness the lasting change they have brought to the lives of many through their programmes. We believe Bettr represents a new generation of businesses that can help address pressing societal issues in our midst and drive systemic change from the ground up, and look forward to the potential impact they’ll be creating with this latest capital injection from the AIFF,” said Ms Karen Ngui, DBS Group Head of Strategic Marketing andCommunications and DBS Foundation Board Member.

“Since its founding, Bettr Group’s founders have demonstrated a strong commitment towards asocial mission to deliver a consistent track record in improving the lives and livelihoods of thevulnerable communities in Singapore. Heritas Capital’s Asia Impact First Fund is pleased to provide Bettr Group with catalytic growth capital and strategic support for its next phase of impactful business transformation”, said Ms. Janet Chia, Managing Director and Head of Private Equity at Heritas Capital. Ms. Janet Chia will also be joining the Board of Directors of Bettr Group.

"Following the successful first close of Heritas Capital’s Asia Impact First Fund (AIFF) in early 2023 with DBS Bank as anchor investor, we are pleased to now deploy impact-first growth funding for Bettr Group’s to scale its business sustainably and enhance the well-being of local communities.Beyond impact-first equity investing into promising and fast growing social enterprises such as Bettr Group, Heritas seeks to partner like-minded corporates, foundations, family offices and philanthropic funders to create blended finance structures and mentorship programmes in support of impactful growth enterprises,” said Mr. Chik Wai Chiew, CEO and Executive Director of Heritas Capital.