Aavishkaar’s five previous funds have cultivated early-stage social startups in India
Aavishkaar-Intellecap Group reached the first close in its planned $200 million Bharat Fund, Livemint reports.
Bharat Fund could double Aavishkaar’s fundraising to date. Aavishkaar’s five previous funds have cultivated early-stage social startups in India; half of the Bharat Fund will back later-stage companies.
Aavishkaar has identified three companies in waste management and financial services in which to invest roughly $20 million each.
The fund is so far backed by $25 million from CDC, the U.K.’s development finance institution, several Indian family offices, the Small Industries Development Bank of India, and the Indian National Bank for Agriculture and Rural Development.
Aavishkaar-Intellecap Group is hosting its 9th Sankalp Forum in Mumbai next month (see #Signals below).
Aavishkaar closes $95 million for India’s largest impact fund was originally published in ImpactAlpha on Medium, where people are continuing the conversation by highlighting and responding to this story.
This post was originally published on ImpactAlpha.com
Visit the Invest With Values - Resource Directory to access leading investor information, opportunities, organizations, events, groups and tools.