Australia's largest foundations unite to launch the nation's first Philanthropic Lending Facility for refugee economic participation

Thrive Refugee Enterprise

Key Facts:

Seven of Australia's leading philanthropic funders have come together to launch the country's first philanthropic lending facility dedicated to refugee economic participation. This landmark initiative is designed to help refugees start and grow businesses in the critical early years of resettlement.

With backing from funders including Minderoo Foundation, Paul Ramsay Foundation, four Australian Impact Investments clients – Snow Foundation, The Wyatt Trust, Siddle Family Foundation and Alberts | The Tony Foundation – this coordinated investment marks a rare example of leading Australian funders joining forces for greater social impact.

The $4.1 million philanthropic lending facility will expand access to loan capital for refugee-led businesses, with a particular emphasis on financing women-led enterprises.

Seven of the country's leading philanthropic foundations back a landmark social impact initiative to fast-track refugees into small business and employment — launched in Western Sydney at 10am today by the Hon. Dr Andrew Charlton, Cabinet Secretary, Assistant Minister for Science, Technology and the Digital Economy, Member for Parramatta, and Thrive Refugee Enterprise.

SYDNEY, TUESDAY 16 JUNE 2026 — Seven of Australia's leading philanthropic funders have come together to launch the country's first philanthropic lending facility dedicated to refugee economic participation. This landmark initiative is designed to help refugees start and grow businesses in the critical early years of resettlement.

Delivered in partnership with Thrive Refugee Enterprise, Australia's leading not-for-profit dedicated to refugee economic participation, the $4.1 million philanthropic lending facility will expand access to loan capital for refugee-led businesses, with a particular emphasis on financing women-led enterprises. It will contribute to measurable outcomes delivered over a seven-year period: refugees starting and sustaining businesses, building economic independence, and expanding economic opportunities for refugee women.

Thrive Co-Founder and Chairman Huy Truong said: "We are so proud to have seven of Australia's most respected philanthropic foundations come together to launch Australia’s first impact capital facility to empower refugees. This $4.1m facility highlights the belief these investors have in the economic potential of refugees, and women refugees in particular. This belief was not a hunch or a hope, rather it is underpinned by rigorous due diligence of Thrive’s operations, governance and track record for refugee business outcomes. We are humbled by this support and look forward to deploying this capital to empower hundreds more refugee businesses and in due course, deliver the social and financial returns. I hope this will be the first of many facilities in years to come and for social investment capital to be a core part of the economic pathway to rebuilding refugee lives successfully."

Minderoo Foundation CEO John Hartman said: “Inclusive access to finance is essential for refugees, asylum seekers and migrants to fully participate in the economy. We are proud to deepen our partnership with Thrive Refugee Enterprise through this multi-lender impact facility – expanding access to capital, accelerating business growth, and ensuring women-led enterprises across the community can fully realise their potential.”

Snow Foundation CEO Georgina Byron AM said: "This facility represents exactly the kind of bold, collaborative philanthropy we need more of in Australia. The gender lens is central to why this investment resonates with us, with formal targets to expand lending to women, reduce barriers like collateral requirements, and build financial confidence among female entrepreneurs. When funders align around shared values and commit to long-term outcomes, we start driving real systemic change."

Paul Ramsay Foundation CEO Professor Kristy Muir said: “This investment will provide refugees across Australia access to capital and wraparound support services, so they have opportunities to build wealth, get ahead, and make their own economic choices. We're proud to invest in this innovative facility alongside our peers and we hope lessons from this approach can influence more impact investment and types of finance for social purpose organisations.”

Philanthropic Lending Facility Launch Event

The launch of the Philanthropic Lending Facility will be officially announced at an event hosted by Thrive Refugee Enterprise on Tuesday 16 June 2026 at 10:00am at the ParkRoyal Hotel in Parramatta by the Hon Dr Andrew Charlton, Cabinet Secretary, Assistant Minister for Science, Technology and the Digital Economy, Member for Parramatta, as part of his keynote address.

Also speaking will be Huy Truong, Co-Founder and Chairman of Thrive, who has been appointed to the Federal Government's new Employment Services Reform Advisory Group; a group announced by the Hon Amanda Rishworth MP, Minister for Employment and Workplace Relations, as part of the Government's once-in-a-generation overhaul of employment.

During the event, Thrive will also release its 2017 - 2025 Impact Report.

Event Venue: ParkRoyal Hotel, 30 Phillip Street, Parramatta – Marsden Room on the ground level.

About Thrive Refugee Enterprise

Thrive Refugee Enterprise is Australia's leading not-for-profit organisation dedicated to refugee economic participation. Founded in 2017 by John Curtis, Anna Curtis and Huy Truong, Thrive exists on a simple conviction; that economic independence is the fastest, most dignified pathway to genuine refugee integration and to contributing to national GDP.

Thrive works with refugees and humanitarian entrants across Australia, providing the finance, training, mentorship and employment support they need to start businesses and secure jobs. Its work is made possible by funding from the Federal Government, Westpac and philanthropic foundations, as well as impact-focused partnerships with Australia Post, Minderoo Foundation, Paul Ramsay Foundation, Snow Foundation, Wyatt Trust, Siddle Family Foundation and the Alberts | The Tony Foundation. More information: www.tre.org.au

Thrive Refugee Enterprise media contacts: 1. Annie Walsh m. 0404 315 875, [email protected], 2. Jesse Northfield

m. 0407 099 469, [email protected].

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About Minderoo Foundation: Minderoo Foundation is driven by a commitment to create a future where people and the environment we depend on can thrive. Our work focuses on strengthening communities, advancing gender equality and protecting natural ecosystems. While our approach centres on long-term systems change, when urgent challenges arise, including humanitarian crises, we act quickly through targeted impact missions. We drive change by working alongside those closest to the challenge, advocating for reform, building evidence for what works and developing solutions when none exist.

About Paul Ramsay Foundation: The Paul Ramsay Foundation (PRF) is one of Australia's largest philanthropic foundations, working for a future where people and places have what they need to thrive. The late Paul Ramsay AO established the Foundation in his name in 2006 and, after his death in 2014, left most of his estate to continue his philanthropy for generations to come. Working with organisations and communities, PRF invests in, builds and influences the conditions needed to stop disadvantage in Australia.

About Snow Foundation: Snow Foundation is a family philanthropic foundation deeply committed to place, country and community. Their purpose is to create lasting social change by building strong communities and forging fair systems. Established in 1991 by brothers Terry and George Snow, and led by Georgina Byron AM since 2006, they have grown from Canberra roots into a trusted philanthropic leader with national reach.

About The Wyatt Trust: Established in 1886, and Australia's oldest philanthropic trust, The Wyatt Trust uses its capital and influence through grant making, advocacy and investments, to help alleviate poverty and bring benefits to people and planet.

About Siddle Family Foundation: The philanthropic arm of the Siddle Family Office, the Siddle Family Foundation partners with communities to create lasting change across housing, income and relationships, working toward safe homes that enable families to thrive.

About Alberts | The Tony Foundation: Alberts is a 140-year-old Australian family business with a long history of backing pioneers and a mission to create a vibrant and sustainable future. The Tony Foundation, Alberts’ philanthropic arm, partners with pioneering organisations harnessing the transformative power of music to improve life outcomes for young Australians. The Foundation embraces a responsible investment approach across its corpus through multiple investment strategies.

Contact details:

Thrive Refugee Enterprise media contacts: 1. Annie Walsh m. 0404 315 875, [email protected], 2. Jesse Northfield

m. 0407 099 469, [email protected].