Swiss impact investment manager BlueOrchard Finance has expanded its presence in the Asia-Pacific region by opening a new office in Singapore.

Through the new office, BlueOrchard aims to tap the increased demand of impact investing services from Asia’s wealthy.

“Despite remarkable economic progress achieved in Asian-Pacific countries over the last decades, the region remains home to an enormous number of the world’s poorest and most vulnerable people. At the same time, the Asia-Pacific impact investing market is growing and increasingly addresses societal and environmental challenges. Due to its central location and outstanding infrastructure, Singapore is well positioned to become an impact investing hub in Asia-Pacific,” BlueOrchard said in a statement.

The Singapore office will complement the firm’s office in Phnom Penh, which opened around eight years ago.

BlueOrchard CEO Patrick Scheurle said: “We are seeing high demand in the Asia Pacific region for impact investing expertise. Singapore, as a local hub, plays an important part in BlueOrchard’s continued growth in the region.”

So far, Blue Orchard has invested over $5bn in around 80 emerging and frontier markets to support social and environmental improvements.