Lok Capital buys minority stake in social enterprise Drishti
Monday, January 7, 2013
The Rockefeller Foundation-backed Lok Capital, a dedicated VC fund focused on serving the BOP (bottom of the pyramid) has bought ‘a significant minority stake’ in Drishti, a social enterprise providing eye care to underserved populations. This also marked the New Delhi-headquartered VC fund’s foray into healthcare segment.
While confirming the development, Lok Capital and Drishti officials refused to divulge the exact amount that the VC fund has chipped in. “All we can say is that Lok Capital has taken a significant minority stake in our social enterprise,” Drishti top officials told FC.
Drishti will use the funds to service underserved geographies of Karnataka with their tier-III hub-and-spoke model using outreach programmes for villages, telemedicine supported vision centres at small towns for primary eye care and advanced eye facilities and surgical care at their hospital.