Nicola Forrest Donates $500M to Back Women Entrepreneurs

Australian billionaire Nicola Forrest has contributed more than $500 million to her Coaxial Foundation in 2026 to support programs focused on Indigenous children and women entrepreneurs. The donation includes $125 million in cash and 25 million Fortescue shares, allowing the foundation to launch its first three major long-term partnerships.

Under the initiatives, venture firm Antler will receive up to $30 million to support as many as 250 Australian female founders. Cape York Partnership will receive $30 million over six years to support early learning programs for Aboriginal children, while SNAICC will receive $7.1 million over three years to improve early childhood education outcomes for Aboriginal and Torres Strait Islander children.

The Coaxial Foundation said the partnerships form part of its broader commitment to expanding opportunities for women and children. It selected organizations with established expertise and experience to deliver meaningful and lasting improvements in their respective communities.

Key Highlights:

• Nicola Forrest donated over $500 million to the Coaxial Foundation to support Indigenous children and women entrepreneurs
• Antler will receive up to $30 million to support 250 Australian female founders through funding, investment and business networks
• The foundation committed $37.1 million to Cape York Partnership and SNAICC to improve early learning and development outcomes for Indigenous children

The announcement involves a partnership of up to $30m with Antler; a six year partnership of $30m with Cape York Partnership; and a three year partnership of $7.1m with SNAICC. There will be opportunities for funding, investment and program support for entrepreneurship and early childhood learning and family development.

The foundation has a significant agreement with Antler, a global venture firm at the early stage, with a target of up to $30 million. Up to 250 Australian female founders will be able to access funding, business networks and support in the early stages of starting up their business as part of the partnership.

The partnership comprises up to $10 million in non-dilutive funding, along with co-investments and program support over four years, according to the Coaxial Foundation. It also consists of $20m invested in Antler Australia Fund III. The goal of the program is to provide more capital and resources to more female entrepreneurs.

The partnership will also launch Momentum, a four-year program with Coaxial to identify, fund and support female entrepreneurs. It will be a combination of Antler's global venture platform and funding and investment from Coaxial Foundation.

Over six years, Cape York Partnership has received a $30-million commitment from Coaxial Foundation, which operates with Aboriginal communities. Funding will go towards learning and development programs for the young Cape Aboriginal children.

The partnership is a component of the foundation's larger work to enhance the lives of Indigenous children and families. As part of the initiative, Cape York Partnership will enjoy ongoing financial assistance for its work in the field of early childhood learning and development.

The foundation has also recently announced a three year partnership of $7.1 million with SNAICC – National Voice for our Children, the national peak body for Indigenous and Torres Strait Islander children and families.

This funding will come in the form of grants and philanthropic donations to help broaden SNAICC's capacity to improve the outcomes for Aboriginal and Torres Strait Islander children in early childhood throughout Australia. The partnership will primarily aim to build on the organization's current support for Indigenous families and communities.

Coaxial CEO Philippa Watson said the foundation's partnerships with Cape York Partnership and SNAICC were long-term ones with Aboriginal and Torres Strait Islander children and families. The projects would give children the early learning opportunities that would be available to support their family systems and benefit their outcomes on a larger scale, she said.

Nicola said the partnerships reflected her belief that philanthropy could act as an initial catalyst for change, while sustainable improvements required long-term investment and support.

In the official media release, Nicola said: "Australia does not have a shortage of talent, ambition or people committed to making things better. Too often, what is missing is access to opportunity, capital and the sustained support required to turn potential into outcomes."

She also highlighted the importance of working with experienced organizations and maintaining long-term commitments. Reflecting on her experience in business and philanthropy, she said: "Thirty years in business and philanthropy have taught me that good intentions are not enough. Lasting change requires strong partners, evidence, disciplined execution and the willingness to stay the course."