Investment in social and environmental causes is gaining momentum in Western Australia, a groundbreaking state-specific industry report has found.

Growing evidence from the first-ever analytical snapshot of the WA market revealed the corporate sector's interest in social enterprise is growing, particularly from Aboriginal capital investing in regional ventures.

Almost $60 million was invested in the past two years, with analysts forecasting a further $123m in the pipeline.

The Investing with Purpose report by Impact Seed assessed current and future capital flow, investor sentiment and policy and market recommendations from industry data and surveys of the WA investment market.

The study by the not-for-profit impact investment intermediary showed demand for deals was strong but development was being hindered by a lack of government support, brokering capacity and market transparency.

More than half of those surveyed in WA said social impact was just as important in the coming five years as financial outcomes.

Impact investment is intentional allocation of capita to create measurable environmental or social outcomes, alongside a financial return, with almost a whopping $70 billion in assets under management across Australia... most from interstate.

Impact Seed's report uncovered rapid growth towards Aboriginal capital investment - estimated between $4b-$6b - as key to leveraging better results for WA.

Gelganyem chair and Gija woman Kia Dowell, from Warmun Community (Turkey Creek) in the East Kimberley, said more social investment in First Nations organisations across WA's remote communities was key to leveraging better results in the state.

Ms Dowell was head of strategy and impact at Indigenous Business Australia, after 15 years with organisations such as Rio Tinto, the Australian Human Rights Commission, Curtin University, Tourism WA, and as founder of Codeswitch, identifying and implementing transformational and sustainable initiatives that deliver shared social and environmental value, particularly in the Indigenous business space.

"Investors back companies - right now investors aren't backing Aboriginal companies or organisations to lead the environmental restoration of Country," she said.

"That presents both an incredible challenge and opportunity.

"I have hope in a way that I didn't have five years ago... primarily because of the work, resilience and strength of Traditional Owners, and capability of Gelganyem."

For example, mine closures across WA due to declining profits or resources did not necessarily mean the end of opportunities for Traditional Owners and communities.

"For Traditional Owners, it's the start of our ability to fulfil our relationship with Country and the responsibility and rights that must be upheld," she said.

Impact Seed executive director of investment Chuck Berger said he had suspected growing investor interest in social and environmental impact methodologies, and there was data now from WA to prove it.

"More and more investors are searching for ways to invest in WA's regions, in our environment, and in our social systems," he said.

"But the marketplace for these deals still needs to catch up."