Legatum invests Rs 34 cr in Intellecap

Tuesday, October 9, 2007

Legatum, a firm that invests in initiatives that support social development, today announced an investment of $8.4 million (Rs 34 crore) in Intellecap, a provider of business advisory services for investors and companies that seek both a financial and sustainable social return on investment.

Philip Vassiliou, senior vice president, Legatum, said: “Intellecap is an innovative and entrepreneurial company that has created a unique niche, intermediating financial capital into development-oriented businesses operating in India’s poorest communities. Intellecap will now seek to extend and develop its combination of world-class services and people, delivering independent, impartial and insightful enterprise solutions.”

Intellecap co-founder Vineet Rai said: “We are delighted that in Legatum we have a partner committed to the same principles, and whose investment will help us increase our reach to investors, enterprises and entrepreneurs focused on sustainable development in India’s poorest communities.”

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Source: Business Standard (link opens in a new window)