Australian billionaire Nicola Forrest injected more than $500 million into her newly launched Coaxial Foundation in 2026, unleashing a cascade of multi-year capital commitments aimed at Indigenous early childhood education and women entrepreneurs.
Liquidity met listed equity. The colossal funding injection combines $125 million in cash with 25 million shares of iron ore giant Fortescue. Coaxial Foundation immediately deployed the capital, locking in three inaugural long-term alliances totaling more than $67 million across enterprise creation, early childhood learning, and community stability.
Coaxial committed up to $30 million to global early-stage venture platform Antler to finance and mentor up to 250 Australian female founders. The vehicle combines early commercial scaffolding with long-term risk capital, directly tackling systemic funding shortfalls encountered by women founders across the domestic ecosystem.
Under the arrangement, Antler will deploy up to $10 million across non-dilutive capital grants, co-investments, and operational assistance across a four-year horizon. The remaining $20 million sits as an equity cornerstone in Antler Australia Fund III. The deal establishes 'Momentum, powered by Coaxial'—a dedicated four-year track engineering pipeline discovery, pre-seed capital injections, and scaling infrastructure for women-led startups.
Concurrent with the venture deployment, Forrest targeted Indigenous child welfare through two major community compacts. The foundation locked in $30 million over six years for Cape York Partnership to expand early learning and family development programs across remote Aboriginal settlements in the Cape. A complementary three-year, $7.1 million grant goes directly to SNAICC – National Voice for our Children, the country's peak advocacy body for Aboriginal and Torres Strait Islander families.
| Partnership Allocation | Recipient Organization | Operational Horizon | Strategic Mandate |
|---|---|---|---|
| Up to $30 Million | Antler (Global Venture Firm) | 4 Years | Backs up to 250 female founders via $10M operational/non-dilutive capital and $20M in Antler Fund III |
| $30 Million | Cape York Partnership | 6 Years | Delivers foundational learning and early childhood development in Aboriginal communities |
| $7.1 Million | SNAICC – National Voice for our Children | 3 Years | Institutional grants strengthening early learning outcomes nationwide |
Coaxial Chief Executive Officer Philippa Watson stated that the dual commitments to Cape York Partnership and SNAICC establish durable, multi-generational interventions rather than short-term grantmaking cycles. Watson stressed that reliable capital allows community organizations to scale proven local early childhood systems and protect vulnerable family networks without fiscal interruptions.
Philanthropy often acts as a transient patch. Forrest argued it must function as risk-tolerant structural capital.
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. 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.
Nicola Forrest, Coaxial Foundation Founder
Antler and Coaxial will formally activate the Momentum platform intake across early-stage hubs in the coming weeks, while Cape York Partnership and SNAICC begin expanding regional staffing models under the multi-year tranches.