Aavishkar Venture Capital to Raise $400 Million in 2015
Friday, January 2, 2015
Aavishkar, the country’s biggest social entrepreneurship-focused venture capital fund, is set to raise $400 million (Rs 2,500 crore) in 2015. This would be the biggest amount raised by any fund focusing on the social sector or impact investing in the country.
Aavishkar would raise two separate funds, a $100 million and a $300 million one within the next 12 months. “We hope to close the first fund by the end of March as we are half way there. We are also raising a separate $300 million fund which would be closed by the end of 2015,” said Vineet Rai, CEO and managing director, Aavishkar.
The $100-million fund would be an Africa-focused fund while the $300-million fund would invest in India. In the past 12 years, Aavishkar had raised $112 million and invested in the early stage social sector enterprises. However, with its upcoming $300 million India-focused fund, it plans to invest in companies at a later stage. This would also be the first time an Indian VC is investing in Africa.