Mumbai India-based impact investor Aavishkaar-Intellecap Group has raised $25 million in a round partnered with European impact investor Triodos Investment Management and the Shell Foundation, the charity arm of the Shell Group.
Founded in 2001, the Group models its investment strategy after Silicon Valley’s famed venture capital methodology but serves India’s underserved regions and sectors in agriculture, dairy, education, energy, handicrafts, health, water and sanitation, technology for development, microfinance and financial inclusion. Aavishkaar means “invention” in Hindi. The AUM of its current impact portfolio is $446 million.
Vineet Rai, Founder, Aavishkaar–Intellecap Group says, “We are excited with our partnership with Triodos Investments and Shell Foundation, who join us as equity holders and as trusted long term partners in our audacious journey of making impact by building businesses with the other three billion.”
Marilou Van Golstein, chair — management board and managing director, Triodos Investment Management said, “With this new investment we look forward to continuing our shared journey in building an impact investing ecosystem where entrepreneurship can thrive, creating sustainable livelihoods and contributing to positive change for our planet and society.”
Sam Parker, director, Shell Foundation said, “We aim to help social enterprises benefit 100 million people in India and East Africa over the next three years. If we succeed we will demonstrate that enterprises can meet basic needs in ways that are fast, cost-effective and attractive to both governments and investors.”
