Impact investor Gray Ghost Ventures to Raise $60 mln Third Fund
Tuesday, January 13, 2015
Impact investor Gray Ghost Ventures said it is raising a $60 million third fund that represents a big step up from its $35 million second fund in 2009. The firm expects a first close on about $25 million in March, said CEO Arun Gore.
Gray Ghost Ventures, based in Atlanta, is an early-stage investor with 60 percent to 70 percent of its investments in India. A second big focus is sub-Saharan Africa.
Gore said the firm’s impact investing has been profitable. The return on its portfolio is more than 2x, he said. “There is no impact if you’re not successful.”