Beyond making a profit, B Corp businesses worldwide are known to promote a greater social and environmental good. Oftentimes, however, founders turn away quick exits, reject buyers who won’t uphold their ideals, and keep their mission and values at the core of their venture.

But what happens when succession looms and the founder is ready to move on? How can they hand over the keys without watching their legacy get gutted by new owners?

This is the dilemma facing a growing number of B Corp founders. Having scaled companies with ethics hardwired into their DNA, they now face a difficult truth: traditional exit options don’t align with their mission. Acquisitions often mean culture clash, employee upheaval, or worse – purpose diluted in pursuit of profit.

Enter Arowana with a solution that is as bold as it is timely.

The global investment group – itself a certified B Corporation – has launched a S$120 million holding company headquartered in Singapore, designed specifically to invest in and grow businesses committed to the B Corp triple bottom line of people, planet, and profit.

AIC Group Holdings, the new entity, isn’t just another fund. It’s a permanent capital structure built for continuity – a structure that aims to honour the ethos of purpose-driven founders even after they exit.

Read: Business as a force for good: Inside the culture of B Corps

Upholding B Corp continuity

The launch marks a first-of-its-kind move in Asia. AIC Group Holdings will focus on growing companies that are already B Corp certified or aspire to be. The mission is to provide founders with a credible succession pathway that doesn’t compromise the ethos and culture they’ve spent years cultivating.

Kevin Chin, founder and chairman of Arowana, calls it the result of “two years of structural optimisation” and a culmination of lessons learned in the trenches of impact investing.

“We 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,” he said.

The move signals Arowana’s pivot to long-term stewardship over short-term gains – an ethos that resonates deeply with the B Corp community, especially as questions around mission drift and ethical exits come to the fore.

Read: View from the Top: Kevin Chin of Arowana

ASEAN first, the world next

Singapore’s selection as AIC Group Holdings’ base is no accident. “We see many enterprises across the fast-growing ASEAN region that would be a good fit,” Chin explained, citing the bloc’s dynamic economic environment and swelling population as fertile ground for the next generation of purpose-driven businesses.

But the vision doesn’t end in Southeast Asia. Arowana has its sights set on emerging markets in Africa, the Middle East, and Latin America – regions where the balance of people, planet, and profit has never been more urgent, or more promising.

The holding company is already deep in exclusive due diligence on four proprietary investment opportunities across ASEAN. While details remain under wraps, Chin said these opportunities have emerged specifically because of Arowana’s “veritable commitment to the B Corp ethos”.

Bringing in the B Corp brass

Perhaps the most compelling endorsement of Arowana’s initiative comes from its new advisory board. Andrew Kassoy, co-founder of B Lab Global – the non-profit behind the global B Corp certification – has joined as an adviser, alongside Thomas Ng, founder of Genashtim, a pioneering B Corp social enterprise operating in three continents.

Both Kassoy and Ng bring heavyweight credentials and a deep-seated belief in the B Corp movement’s long game. Kassoy described the partnership as a natural next step in tackling a common founder conundrum.

“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,” he said.

Ng echoed this sentiment, pointing to a groundswell of businesses in Africa, ASEAN, and Latin America looking for custodianship apart from just capital.

“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,” Ng said.

B Corp to the core

Founded in 2007, Arowana is no newcomer to impact. It first earned its B Corp certification in 2018. It’s a badge that, by Chin’s own admission, has profoundly shaped the firm’s investment philosophy. The group recertified in 2023, doubling down on its mission to grow people, companies, and value while staying true to the triple bottom line.

With operating companies and investments across Southeast Asia, the Middle East, Africa, Europe, and Oceania, Arowana is positioning itself as both a regional anchor and a global champion for sustainable business.

The new holding company is the next evolution of that journey. It represents a structure built to preserve the DNA of companies for whom ESG is more than just a metric but a manifesto.