First In, Many Follow: Perspectives from Australian Foundations on Blended Finance Participation
CrossBoundary Advisory
16.06.2026
White paper
16.06.2026
White paper

An Australian Perspective on Blended Finance Participation

Key Insights
In the First In, Many Follow white paper, CrossBoundary unpacked blended finance for philanthropies and addressed some of the critical constraints in the field
In this addendum, we profile how several Australian foundations are implementing their own fit-for approach to blended finance participation and offer five practical steps
The paper features insights from Snow Foundation, Minderoo Foundation, Transition Accelerator, and Australia’s Department of Foreign Affairs and Trade (DFAT)

In Australia, interest in blended finance is growing as foundations, governments, development institutions, and private investors explore new ways to mobilize capital for impact.

This addendum to First In, Many Follow: How Foundations Are Anchoring the Next Wave of Blended Finance builds on the original framework with practical Australian examples. Through case studies from Snow Foundation, Minderoo Foundation, Transition Accelerator, and the Australian Department of Foreign Affairs and Trade (DFAT), it examines how Australian institutions are participating in blended finance to advance mission-driven outcomes, mobilize additional investment, and address market failures.

The report also offers five practical takeaways for foundations considering their own approach. It highlights the different pathways available for participation, the importance of governance and organizational readiness, and the critical role that market building, investment facilitation, and specialist expertise can play in helping capital flow where it is needed most.

As blended finance activity continues to evolve in Australia, the experiences shared in this report demonstrate how foundations can work alongside other partners to tackle challenges too large or complex for any single organization to address alone, catalyzing funding and outcomes at greater scale.

Download the white paper