The constrained Australian venture capital industry is about to receive a $100 million infusion earmarked for companies that promise to do good for society or the environment.

The Impact Investment Fund is the brainchild of Melbourne-based social investor Geoff Gourley.

The fund intends to invest a minimum of $100,000 in fledgling companies, which are on track to return a financial investment, but which also work towards socially or environmentally-progressive aims.

So-called impact investing may be a nascent concept in Australia, but a report by the World Economic Forum in 2014 estimated the market would be worth upwards of $US650 billion by 2017.

Read more: http://www.afr.com/technology/impact-investment-fund-launches-a-new-100-million-sociallyconscious-aussie-startup-fund-20150604-ghgsip#ixzz4yJ5z70CW