Monday
August 21
2017

Tata Trusts’ FISE to raise $30 mn to fund social startups

Tata Trusts, the philanthropic wing of the Tata Group, is looking to raise nearly $30 million (Rs 192 crore) to invest in social enterprises.

The firm has received approval from the Securities and Exchange Board of India (SEBI) for a Category I alternative investment fund, with a $15-million green shoe option. The investment ticket size will be between $500,000 and $2 million, a company statement said.

The fund claims to be the country’s first-ever technology-focused fund investing in high-impact social enterprises. Called Social Alpha Fund-1, it is the third tier of the Social Alpha stack being built with Tata Trusts and the Foundation for Innovation and Social Entrepreneurship (FISE), said Manoj Kumar, co-founder and chief executive of FISE.

Photo courtesy of Josh Twohig

Source: VCCircle (link opens in a new window)

Categories
Investing
Tags
finance, impact investing, India, philanthropy, social entrepreneurship, startup