IntelleGrow launching US$31M venture debt fund to invest in social enterprises

Thursday, September 7, 2017

Mumbai-based IntelleGrow — a non-banking financial company (NBFC) which provides debt for working capital needs of early-stage, high-risk SMEs, typically, in the social impact sector — is launching a new fund to the tune of INR 200 crore (approximately US$31 million), its CEO Akbar Khan told e27.

The new fund, expected to go live sometime next year, aims to invest in IntelleGrow’s existing portfolios, as well as new companies.

IntelleGrow has already backed 180 companies across agriculture, clean energy, education, financial inclusion, affordable healthcare, and water and sanitation.

“IntelleGrow is launching a separate venture debt fund because we are trying to access a different pool of capital that wants to participate in the high-yield SME market in India. We will target different investors for the debt fund. Similarly, the products that will be offered from the debt fund will be slightly different to what we currently offer from our own balance sheet,” Khan said.

Photo courtesy of GotCredit.

Source: e27 (link opens in a new window)

impact investing, social enterprise