BarayamalA measurable commitment to First Nations economic participation. Starting at 3%.
Aboriginal and Torres Strait Islander people are 3.8% of Australia’s population, yet First Nations businesses and founders still face structural barriers to capital, procurement, lending and investment. The 3% Pledge sets a clear minimum benchmark: dedicate at least 3% of relevant investment, lending, procurement, opportunities or visibility to genuine First Nations businesses and communities. This is not charity — it is an accountability framework.
The gap, in one chart
$50B+ — 3% of funds under management across the listed super funds below. Australia’s super system held $4.33T at 30 June 2025; a literal 3% equals about $129.9B across the system, or $91.2B of the $3.04T in APRA-regulated assets. APRA statistics.
Every organisation has a 3% to give
The pledge began with venture capital in 2020, expanded to superannuation and the banks, and now applies to any organisation. Choose the doorway that matches your balance sheet — then commit to a staged pathway toward 3%.
Investment
Work toward 3% of funds under management supporting First Nations businesses — a natural next step beyond your RAP.
3% of FUMCapital
Work toward 3% of committed capital backing Indigenous ventures and founders, reported annually.
3% of the fundLending
Set 3% investment and lending targets for Indigenous economic development across your book.
3% of lendingSpend & visibility
Dedicate 3% of procurement, opportunities or visibility to First Nations people and businesses.
3% of spendWhere the institutions stand
Publicly tracked, updated as commitments land. A Reconciliation Action Plan is noted — but only a pledge with a number counts as pledged.
No organisations match.
Superannuation funds
3% of listed funds’ FUM ≈ $50B+ 9 organisations| Fund | FUM (approx.) | 3% commitment | Status | Channels | Take action |
|---|---|---|---|---|---|
| AustralianSuper | $410B+ | $12.3B+ | Invitation open | ||
The ask for super funds: 3% of new Australian private-market commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Australian Retirement Trust | $370B+ | $11.1B+ | Invitation open | ||
The ask for super funds: 3% of new Australian private-market commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Aware Super | $210B | $6.3B | Invitation open | ||
The ask for super funds: 3% of new Australian private-market commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| UniSuper | $166B | $5.0B | Invitation open | ||
The ask for super funds: 3% of new Australian private-market commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Hostplus | $134.5B | $4.0B | Invitation open | ||
The ask for super funds: 3% of new Australian private-market commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Cbus SuperIndustry super fund | $110B+ | $3.3B+ | RAP, no pledge | ||
The ask for super funds: 3% of new Australian private-market commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| HESTA | $105B+ | $3.2B+ | Invitation open | ||
The ask for super funds: 3% of new Australian private-market commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Rest Super | $105B | $3.2B | RAP, no pledge | ||
The ask for super funds: 3% of new Australian private-market commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| CSCCommonwealth Government superannuation | $80B+ | $2.4B+ | Not publicly committed | ||
The ask for super funds: 3% of new Australian private-market commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
Figures are indicative, based on the latest publicly available fund-reported figures at time of review; where a fund reports “over” or “approximately”, we apply the same wording and calculate 3% on the stated figure. Final amounts are confirmed with each organisation at onboarding. See the open letter.
Venture capital firms
Median funding to Indigenous ventures: $0 5 organisations| Firm | Reported capital / portfolio scale | 3% illustration | Status | Channels | Take action |
|---|---|---|---|---|---|
| Blackbird Venturesportfolio value, not fund size | $9.9B* | $297M | Invitation open | ||
The ask for venture capital: 3% of new Australia-focused venture capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Square Peg Capital | US$3B | US$90M | Invitation open | ||
The ask for venture capital: 3% of new Australia-focused venture capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| AirTree Ventures | $2.0B | $60M | Invitation open | ||
The ask for venture capital: 3% of new Australia-focused venture capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Main Sequence | $1.0B+ | $30M+ | Invitation open | ||
The ask for venture capital: 3% of new Australia-focused venture capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| OneVentures | $1.0B+ | $30M+ | Invitation open | ||
The ask for venture capital: 3% of new Australia-focused venture capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
*Blackbird’s $9.9B is reported portfolio value, not committed fund size; figures mix AUD and USD as reported (USD marked) and are illustrative only. Context: the $0-median press release and SmartCompany’s coverage.
Banks
3% of investment & lending for Indigenous economic development 7 organisations| Bank | Reconciliation position | Status | Channels | Take action |
|---|---|---|---|---|
| ANZ | RAP in place | RAP, no pledge | ||
The ask for banks: 3% of eligible new SME and business lending 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | ||||
| Commonwealth Bank | RAP in place | RAP, no pledge | ||
The ask for banks: 3% of eligible new SME and business lending 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | ||||
| Westpac | Stretch RAP 2025–2028 | RAP, no pledge | ||
The ask for banks: 3% of eligible new SME and business lending 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | ||||
| NAB | RAP in place | RAP, no pledge | ||
The ask for banks: 3% of eligible new SME and business lending 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | ||||
| Macquarie Group | RAP in place | RAP, no pledge | ||
The ask for banks: 3% of eligible new SME and business lending 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | ||||
| Bank AustraliaCustomer-owned; nearly $17.5B assets | First Nations Strategy 2023–2030 | Strategy, no pledge | ||
The ask for banks: 3% of eligible new SME and business lending 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | ||||
| Great Southern BankCustomer-owned; $21.1B group assets | Innovate RAP 2026–2028 | RAP, no pledge | ||
The ask for banks: 3% of eligible new SME and business lending 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | ||||
Anyone can act: email a big bank with a pre-written message in two minutes.
Public asset owners and investment corporations
A sovereign and state-capital pathway to measurable First Nations allocation 4 organisations| Organisation | Assets managed (approx.) | 3% illustration | Status | Channels | Take action |
|---|---|---|---|---|---|
| Future FundAustralian sovereign wealth fund | $337.2B total | $10.1B | Strategy, no pledge | ||
The ask for public asset owners: 3% of new Australian private-market mandates 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| QICQueensland Government-owned investment manager | $137B+ AUM | $4.1B+ | RAP, no pledge | ||
The ask for public asset owners: 3% of new Australian private-market mandates 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| TCorpNSW sovereign investment manager | $118.6B AUM | $3.6B | Not publicly committed | ||
The ask for public asset owners: 3% of new Australian private-market mandates 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| VFMCVictorian public-authority investment manager | $103B FUM | $3.1B | Not publicly committed | ||
The ask for public asset owners: 3% of new Australian private-market mandates 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
Figures are indicative and based on the latest official organisation-reported values available at review.
Fund managers and private markets
3% of relevant new Australian mandates or capital deployed 6 organisations| Manager | Reported scale | 3% pathway | Status | Channels | Take action |
|---|---|---|---|---|---|
| IFM InvestorsGlobal private-markets manager | A$263.6B AUM | New Australia-focused private-market deployment | Strategy, no pledge | ||
The ask for fund managers: 3% of new Australia-focused private capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Australian EthicalEthical investment manager and super trustee | A$14.08B FUM | Relevant FUM or new mandates | RAP, no pledge | ||
The ask for fund managers: 3% of new Australia-focused private capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| BlackRock AustraliaAustralian arm of a global asset manager | US$13.9T global AUM | Relevant Australian private-market mandates | RAP, no pledge | ||
The ask for fund managers: 3% of new Australia-focused private capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Vanguard AustraliaInvestment manager and super trustee | A$89.6B Australian ETF AUM | Relevant Australian mandates | Developing RAP | ||
The ask for fund managers: 3% of new Australia-focused private capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| PerpetualGlobal asset manager | A$227.5B AUM | New Australia-focused capital | Not publicly committed | ||
The ask for fund managers: 3% of new Australia-focused private capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Pinnacle Investment ManagementMulti-affiliate investment platform | US$135.1B affiliate FUM | Participating affiliate mandates | Not publicly committed | ||
The ask for fund managers: 3% of new Australia-focused private capital 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
Global figures are labelled where an Australia-only figure was not publicly available; pledge denominators are confirmed during onboarding.
Investment gatekeepers
Manager searches, shortlists and mandates determine which opportunities reach institutional capital 4 organisations| Adviser | Advisory scale | Gatekeeper commitment | Status | Channels | Take action |
|---|---|---|---|---|---|
| JANAInstitutional investment adviser | A$1.3T+ institutional FUA | First Nations options in manager searches and shortlists | Not publicly committed | ||
The ask for investment gatekeepers: First Nations opportunities in at least 3% of searches, pipelines and shortlists 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Frontier AdvisorsInstitutional investment consultant | A$850B under advice | First Nations options in manager searches and shortlists | Not publicly committed | ||
The ask for investment gatekeepers: First Nations opportunities in at least 3% of searches, pipelines and shortlists 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| MercerInvestment consultant and delegated manager | US$16.2T global AUA | First Nations options in manager searches and mandates | RAP, no pledge | ||
The ask for investment gatekeepers: First Nations opportunities in at least 3% of searches, pipelines and shortlists 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| WTWRisk, insurance and investment adviser | Global advisory network | First Nations options in manager searches and shortlists | Not publicly committed | ||
The ask for investment gatekeepers: First Nations opportunities in at least 3% of searches, pipelines and shortlists 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
Each commitment should be measured against a published baseline and reported annually.
Insurance
Investment allocation plus underwriting, risk capacity and supplier commitments 6 organisations| Insurer | Market reach | First Nations position | Status | Channels | Take action |
|---|---|---|---|---|---|
| QBEGeneral insurer and reinsurer | US$35.85B investments and cash | Stretch RAP 2026–2029 | RAP, no pledge | ||
The ask for insurers: a defined investment pathway plus separate underwriting and supplier commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| IAGGeneral insurance group | About A$17B annual GWP | Published RAP term ended June 2025 | Not publicly committed | ||
The ask for insurers: a defined investment pathway plus separate underwriting and supplier commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| SuncorpTrans-Tasman general insurer | A$15.0B FY2025 GWP | Innovate RAP 2024–2026 | RAP, no pledge | ||
The ask for insurers: a defined investment pathway plus separate underwriting and supplier commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Allianz AustraliaGeneral and life insurer | 4M+ Australian customers | Innovate RAP 2026–2028 | RAP, no pledge | ||
The ask for insurers: a defined investment pathway plus separate underwriting and supplier commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| TALSpecialist life insurer | 5M+ customers | Innovate RAP 2025–2027 | RAP, no pledge | ||
The ask for insurers: a defined investment pathway plus separate underwriting and supplier commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| AIA AustraliaLife, health and wellbeing insurer | 3.1M+ customers | Published RAP term ended December 2025 | Not publicly committed | ||
The ask for insurers: a defined investment pathway plus separate underwriting and supplier commitments 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
Insurance scale metrics differ by business model and are shown only as context.
Government financiers
Guarantees, cornerstone commitments, blended finance and project co-investment 4 organisations| Financier | Financing capacity | First Nations framework | Status | Channels | Take action |
|---|---|---|---|---|---|
| CEFCAustralian Government climate investor | A$33B+ available | Advisory committee and investment screening | Not publicly committed | ||
The ask for government financiers: 3% of relevant guarantees, cornerstone capital, blended finance or co-investment 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| NAIFNorthern Australia development financier | A$7B facility | Indigenous Engagement Strategy required per project | RAP, no pledge | ||
The ask for government financiers: 3% of relevant guarantees, cornerstone capital, blended finance or co-investment 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Housing AustraliaNational housing financier | A$10B liabilities cap | Dedicated HAFF First Nations stream | Not publicly committed | ||
The ask for government financiers: 3% of relevant guarantees, cornerstone capital, blended finance or co-investment 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Export Finance AustraliaAustralian export credit agency | A$2.1B financed in FY2025 | Supports First Nations exporters | Not publicly committed | ||
The ask for government financiers: 3% of relevant guarantees, cornerstone capital, blended finance or co-investment 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
Public mandates differ; the 3% mechanism should be defined against eligible new commitments or deployment.
Cross-sector convenors
Organisations able to move whole member networks 2 organisations| Organisation | Reach | Existing initiative | Status | Channels | Take action |
|---|---|---|---|---|---|
| Philanthropy AustraliaNational philanthropy peak body | About 800 funders and organisations | First Nations Funders Network | Not publicly committed | ||
The ask for convenors: member-wide adoption — philanthropy distributions and impact assets 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
| Business Council of AustraliaPeak body for major employers | 120+ chief executives | Raising the Bar: 3% procurement target | Procurement target only | ||
The ask for convenors: member-wide capital adoption alongside the 3% procurement target 0/280Estimated weighted X count; links count as 23 characters. Nothing posts automatically.Open on X → | |||||
Existing procurement and funding initiatives are shown separately from a Barayamal 3% capital pledge.
What a 3% commitment delivers
Five outcomes, straight from Barayamal’s open letter to Australia’s superannuation funds.
Stronger, more sustainable returns
Backing organisations that prioritise social and environmental results alongside financial performance.
Culturally appropriate employment
Enabling Indigenous Australians trapped in poverty to establish prosperous futures for themselves and their communities.
Direct community impact
Investment drives business expansion and job creation in regional and remote areas as well as cities.
Environmental stewardship
Indigenous-led stewardship is strongly linked to protecting Country, biodiversity and long-term environmental management.
Closing the gap
An enormous contribution to closing the wealth gap — actively helping to decolonise wealth in Australia.
A story worth telling
30,000 years of innovation — the world’s first bakers, the oldest aquaculture at Budj Bim, David Unaipon on the $50 note. Your members will get it.
Three steps to a public commitment
Commit
Board-level sign-off on a staged pathway toward 3% of relevant investment, lending, procurement, opportunities or visibility.
Publish
Announce the target and baseline publicly. We list your organisation in the pledge directory above.
Report
Share progress annually against the 3% Pledge impact measurement framework — independently visible, RAP-compatible.
Individuals: you don’t need a boardroom. Historical Super Fund petition, email a bank, or join the selfie wall.
Request a confidential scoping call
A 30-minute call to define your baseline, eligible asset classes, tier and first-year reporting pathway. We confirm scope, then list your organisation in the directory above.
Request a scoping call Choose a Do Gooder action Prefer email? Write to d.foley@barayamal.com.au — we confirm scope, baseline and directory listing.Pledge tiers
Start where you are and climb. Every tier is public, baselined and reported annually against a clear starting point.
Publish your baseline and a 12-month target.
Reach 1% of relevant investment, lending, procurement or visibility.
Reach the full 3% benchmark.
Exceed 3%, with independent annual reporting.
What counts — and who checks
Pledges count spend and investment directed to businesses that are at least 51% First Nations owned and controlled (consistent with the Commonwealth Indigenous Procurement Policy) or ORIC-registered, with Supply Nation or community verification where relevant. Genuine ownership, not black cladding. Progress is reported annually against a clear baseline and made independently visible via IndigiReviews.
Claims get scored. Pledges get counted.
Barayamal’s ReconciliACTION board already rates 190+ organisations on whether their reconciliation claims hold up. The 3% Pledge plugs into the same accountability engine — via IndigiReviews — so a pledge is never just a press release.
Browse the ReconciliACTION scoresFAQ
How are directory statuses assessed?
Statuses are based on publicly available information reviewed on the date shown above. A measurable commitment needs a stated number, a baseline and public reporting. A RAP, strategy, invitation or procurement target is noted as context but does not by itself count as a 3% pledge. Organisations can use “Report an update” to provide newer public evidence.
Why exactly 3%?
Aboriginal and Torres Strait Islander people are 3.8% of Australia’s population (ABS, 2021). 3% is a clear minimum benchmark and it mirrors the Commonwealth’s Indigenous Procurement Policy, which sets a 3% target from 1 July 2025, rising toward 4% by 2030. The pledge extends that same, already-accepted benchmark to capital, lending, procurement and visibility.
Is this charity?
No — it’s an accountability framework and an investment thesis. Organisations that prioritise social and environmental outcomes alongside financial performance can build stronger, more sustainable returns, and Indigenous-led stewardship is strongly linked to protecting Country, biodiversity and long-term environmental management. See the capital constraints research.
We already have a Reconciliation Action Plan.
Good — the 3% Pledge is the natural next step. A RAP states intent; the pledge attaches a number, a baseline and annual reporting. No Australian super fund with a RAP has yet publicly committed to investing directly in Indigenous businesses.
How is progress measured?
Through the 3% Pledge impact measurement framework, with annual public reporting and independent visibility via IndigiReviews and the ReconciliACTION scores. Read the framework.
What counts as a First Nations business?
At least 51% First Nations owned and controlled, consistent with the Commonwealth Indigenous Procurement Policy, or an ORIC-registered corporation — with Supply Nation or community verification where relevant. Genuine ownership, not black cladding. Barayamal can help verify during onboarding; see Dean Foley on black cladding.
3% is where reconciliation
becomes arithmetic.
Institutions: request a scoping call to define your baseline and pathway. Individuals: take a 60-second action. Either way, you move the number.