NVI facilitates investment of Rs 165 mn for green entrepreneurs

Tuesday, November 13, 2007

New Ventures India (NVI) which facilitates sustainable enterprise growth through investment opportunities to emerging ’Green’ entrepreneurs since 2005, has announced investments worth Rs 164.9 million over the last one year in three companies.

The project is an initiative of CII-Sohrabji Godrej Green Business Centre and World Resource Institute, Washington DC supported by USAID.

In the early 2006, New Ventures India (NVI) received a total of 56 business plans from green entrepreneurs across the country. After a strict scrutiny, NVI selected 10 green enterprises. These enterprises were invited to present their business plans at the Investor Forum 2006.

NVI was in constant touch with the investors for facilitating these investments. Out of these, three companies were short listed for investments.

CII-Sohrabji Godrej Green Business Centre chairman Jamshyd N Godrej said, “The collective effort of New Ventures India has borne fruit and I am happy to announce that this year, three companies namely Conserve HRP, HMX Sumaya and ABT Bioproducts have received total Green investments to the tune of Rs 164.9 million and I hope many such green investments will follow in the days to come.”

Conserve HRP which supplies environment friendly recycled fashion accessories has tied-up with Danish fashion business retailer, Bestseller. Conserve has formed a private limited company called ’BS Studio and Services India Pvt Ltd’ and Bestseller will invest $1.36 million in it. This newly formed company will have access to 3500 retail stores in Europe, Middle East and China tied up with Danish fashion business retailer, Bestseller.

Bangalore based HMX Sumaya produces innovative, environmentally-friendly HVAC solutions, is the second company to receive debt funding of Rs 49.9 million from ICICI Bank under the Energy Conservation and Commercialization (ECO) program of USAID.

ABT Bioproducts receives seed funding of Rs 5 million from an angel investor. ABT Bioproducts has developed innovative new products for organic farming, including bio-fertilizer, plant growth promoters, bio-pesticides and soil fertility enhancers.

“By providing investment opportunities to the companies, New Ventures India is helping in achieving CII-Green Business Centre?s vision of making India a leader in Green Businesses,” says Jamshyd N Godrej.

New Ventures India provided extensive mentoring services to these companies to make them investment worthy and was a major facilitator for these deals.

In continuation with its endeavour, New Ventures India is organising its second annual ’Investor Forum 2007’ on November 16-17 in Mumbai…

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Source: Indiantelevision.com (link opens in a new window)