Arowana & Co., a global B Corporation investment group, has announced the launch of a holding company based in Singapore. This company will focus on investing in businesses that are dedicated to the B Corp triple bottom line of People, Planet, and Profit throughout the ASEAN region.
Arowana’s B Corp holding company will provide a pathway for succession and ownership transition for B Corp founders who want to exit while preserving the ethos of their businesses. Initially, the investment will focus on the ASEAN region, but it plans to expand to other developing economies in the MENA and Latin American regions, which have large and growing populations.
SINGAPORE, 16 April 2025 (GLOBE NEWSWIRE) – Arowana & Co. (“Arowana”), a global B Corporation investment group, announced today the launch of a new holding company based in Singapore. This company will specifically invest in organizations dedicated to the B Corp triple bottom line: People, Planet, and Profit, focusing on the ASEAN (Association of Southeast Asian Nations) region.
The primary goal of AIC Group Holdings, the newly established holding company, is to provide ownership succession pathways for companies that are either already B Corps or aspire to become B Corps. This approach aims to honor and maintain the B Corp ethos and culture established by their founders. AIC Group Holdings is privately held.
Alongside the launch of the holding company, Arowana has appointed Andrew Kassoy, the co-founder of B Lab Globa — the non-profit organization behind the B Corp movement — to the Advisory Board of AIC Group Holdings. Additionally, Thomas Ng, a prominent B Corp entrepreneur and founder of Genashtim, a rapidly growing global social enterprise, will also join the Advisory Board.
Arowana founder and chairman, Kevin Chin, commented: “We have been working on optimising a structure for two years and believe a holding company that has no restrictions in terms of investment entry and exit horizons is the best model that matches the succession and growth objectives of B Corp founders and their businesses. As a B Corp ourselves, we appreciate the dilemma that founders face in this regard. We consider Singapore to be the ideal headquarters for this holding company as we see many enterprises across the fast-growing ASEAN region that would be a good fit. This is consistent with Arowana’s broader strategy of pivoting our focus to developing markets across ASEAN and, in due time, Africa and Latin America with large and growing populations and economies.”
He further added: “I am honoured that two luminaries of the B Corp movement, Andrew Kassoy and Thomas Ng, have agreed to join the Arowana holding company advisory board members. Not only are Andrew and Thomas great stewards, but also world-class entrepreneurs who have led the scale-up of high-growth global enterprises. We expect to announce further additions to the advisory board and the holding company team in due course. Meanwhile, our team is already in exclusive due diligence processes on four proprietary investment opportunities in the ASEAN region that have come about because of Arowana’s veritable commitment to the B Corp ethos.”
Andrew Kassoy, co-founder of B Lab Global, commented: “Since the earliest days of the B Corp movement, we have seen first-hand the issues of succession and ownership transition faced by B Corp founders, especially when deliberating on acquisition proposals from non-B Corp entities. I am excited to join the Arowana B Corp holding company advisory board as I share the vision that Kevin Chin has in creating a permanent capital holding company structure with a genuine B Corp ethos that provides a compelling option for B Corp founders exploring succession and exit.”
Thomas Ng, B Corp steward and founder, said: “Having known Kevin Chin for some time and seeing first-hand his steadfast commitment to the B Corp values and mission, I am delighted to be joining the Arowana B Corp holding company advisory board. Across Genashtim’s operations in the ASEAN, African and Latin America regions, we see many businesses that the Arowana B Corp holding company would represent an attractive alternative to consider for succession and ownership transition.”
This Press Release has also been published on VRITIMES
