Accion International launches $10 million investment vehicle, Venture Lab
Monday, May 7, 2012
BANGALORE: In a further boost for social venture investing in India, microfinance and investment firm Accion International has launched its $10 million investment vehicle, Venture Lab, which is focused on providing seed capital to organisations that promote financial inclusion.
Venture Lab, which is currently in talks with 5 to10 start-ups, will invest between $100,000 and $500,000, mostly as convertible debt or equity, in early-stage enterprises, and expects to make about 20 such investments by 2015. The first investment is expected to be announced in the next two to three months.
However, Venture Lab has a mandate of targeting companies that have completed their research and development, and are at the pilot or first revenue stage. It will be looking to invest in companies involved in mobile phone-based financial services, peer-to-peer social media platforms and those offering new products such as micro-insurance
Source: Economic Times (link opens in a new window)
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