India: Hero Enterprises to invest $15.5m in Aavishkaar Bharat Fund
By Ishita Russell
Hero Enterprises today announced a Rs 100 crore ($15.5 million) investment in impact investor Aavishkaar’s new fund, the Aavishkaar Bharat Fund. Aavishkaar Bharat Fund is the investor’s sixth fund, and is a SEBI registered Category II Alternative Investment Fund. The firm is aiming to raise Rs 2,000 Crore ($310 million) for this fund, through which it will invest in businesses engaging with the underserved population in sectors — like agriculture, financial services, healthcare, waste and sanitation, renewable energy and logistics and supply chain.