Ronald Cohen’s Impact may get $2 billion for India
In another key development which nails India’s popularity as a growing destination for global impact investment funds, global buyout shop Apax Partners cofounder Ronald Cohen, Chairman of the Global Steering Group on Impact Investing (GSGII) has announced setting up two major impact investment funds in India. The funds, namely India Education Outcomes Fund and India Impact Fund of Funds will be $1 billion each and are targetted to be raised by 2030.
GSG, which will largely play the role of an incubator for both funds, is currently meeting stakeholders, entrepreneurs and funds for the same. Both the billion-dollar funds are expected to make the first close worth $100 million by October this year and will kickstart the investments next year.
“Impact is mainstream in India now. These will be two large catalytic vehicles. We are starting a series of consultations in India which will culminate into a launch in October this year,” said Ronald Cohen, Chairman, GSG who is also Co-Founder and Director of Social Finance UK, Social Finance USA, Social Finance Israel. He also founded the British Venture Capital Association and the European Venture Capital Association.
Photo courtesy of Ken Teegardin.