Impact investor Aavishkaar-Intellecap to raise up to $75m to fund growth
Thursday, March 22, 2018
By Swaraj Singh Dhanjal
Impact investing-focused Aavishkaar-Intellecap Group plans to raise as much as $75 million in the next few months to fund growth of its various businesses and to invest in new ones.
“We are thinking of going to the market to raise $50-75 million for our holding company, sometime in the middle of the year. This capital would allow the group to support our subsidiary companies as they look to scale and to seed some new business,” said Vineet Rai, founder of Aavishkaar-Intellecap Group.
The group operates its equity funds business through Aavishkaar Venture Management Services; investment banking, consulting and research through Intellecap; extending working capital and business loans to small and medium enterprises through Intellecash, venture debt through Intellecap and microfinance lending through Arohan.
In January 2017, the group raised $25 million in equity funding from Triodos Investment Management, the investment arm of Europe’s Triodos Bank, and Shell Foundation, an independent charity established by the Shell Group. Triodos invested $15 million in the group, while Shell contributed $10 million.
Photo courtesy of Peter Haden.
Source: Livemint (link opens in a new window)
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