Women control 32 per cent of global wealth, yet funding for their economic empowerment remains sidelined. At AVPN, CEO Naina Subberwal Batra is shifting the paradigm, ensuring that gender is at the heart of investment and philanthropy
“There’s a lot of money in Asia. So many billionaires. But yet, there’s so much inequality,” laments Naina Subberwal Batra, chief executive officer of AVPN. As the leader of a funders’ network dedicated to social investment, she has seen how capital can drive meaningful change—and how often it does not. “We still have people and children who don’t have enough food to eat. Girls who are not given a chance to be born. Violence against women,” she expounds. “The need of the hour is unlocking capital that addresses these issues.”
For the past 12 years, Naina has worked to reshape the way capital is deployed for systemic and sustainable impact. Yet, one glaring gap remains. Women now control 32 per cent of the world’s wealth, according to Boston Consulting Group’s Managing the Next Decade of Women’s Wealth report, yet philanthropy and investment continue to overlook their economic and social empowerment.
“When I started leading AVPN, [our team was more] than 70 per cent women. Yet, when we spoke to philanthropists, they’d say, ‘I fund climate, I fund health, I fund education.’ But the moment gender or women’s issues were mentioned, a veil would come down,” Naina shared during the Accelerating Progress: Women Driving Change panel discussion organised by Tatler Singapore Front & Female and AVPN in March.
Before AVPN, Naina spent years in strategy consulting and the arts sector. Growing up in India, philanthropy was ingrained in her upbringing, shaped by her mother’s passion for social causes. “I went to a convent school where service was drilled into you. You always had to do more for those who had less,” she recalls. Her understanding of impact evolved when she joined global strategy consulting firm The Monitor Group. “I didn’t know what a social enterprise was until then; that you could create a business model that provides goods, services, or jobs for those in need while solving social problems at scale.”
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Naina Subberwal Batra, CEO of AVPN
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At AVPN, Naina saw the potential to move beyond grants and donations, deploying capital for lasting change. What started as a small network of fewer than 100 members has since grown to nearly 700 across 36 markets, making it a key force in shaping Asia’s social investment landscape. And as the conversation around impact investing evolves, Naina stands firm that gender must be central to it.
Despite its strong economic case, gender‑lens investing faces resistance, with investors fearing it compromises performance. Many mistakenly believe it prioritises women over men when in reality, it ensures that businesses, products and policies consider both genders. “It’s about looking at the product and asking: has it considered half the population in its design? Who is the advertising campaign aimed at? Within the company producing the product, are women equal decision‑makers? Is there enough female representation?” Naina questions. “We believe that if you have all that, the product or company has a better chance of doing well.”
That said, Naina understands why the concept needs reframing in Asia. “I think Asian investors or philanthropists shy away from investing in women partly because the definition of gender or gender causes is a Western one, [anchored] in feminism and, lately, militant feminism. That feels culturally foreign to us here in Asia,” she notes. This perception means gender issues are often viewed as external factors rather than ones integral to economic development, limiting funding for initiatives that could address Asia’s pressing challenges, from workforce participation to financial inclusion.
