You are here: Home » Companies » News
Business Standard

Aavishkar eyes to close $75-mn Frontier Fund by Q3 of 2014

Set to take its impact investing model to Indonesia, Sri Lanka, Myanmar, Bangladesh and Pakistan

Raghuvir Badrinath  |  Bangalore 

Deposit image via Shutterstock

Aavishkar, a micro-finance fund, expects to raise $75 million for its Frontier Fund by the third quarter of 2014. The fund, to deployed south and south-east Asia, will be among a few India-focussed private equity funds going global.

E N Venkat, partner, Aavishkar Frontier Fund, said there was encouraging response and he was hopeful of tying up fund commitments by the third quarter of 2014. “We have matured as an organisation and recognised our strengths and limitations regarding our work in India. The next logical extension is to look at emerging economies. With the Frontier Fund, we plan to take the Aavishkaar model of investing to neighbouring countries like Indonesia, Sri Lanka, Myanmar, Bangladesh and Pakistan,” the company said.

Aavishkar intends to invest in 300 start-ups across emerging economies, nurture entrepreneurial talent and promote enterprise-based development. The private equity funds aims to raise $1 billion over the next 10 years.

Aavishkaar has raised four funds over the past decade. It has $155 million under management and a portfolio of over 45 business ventures at various stages of development in areas like agriculture, education, energy, handicrafts, health, water and sanitation, technology for development, microfinance and financial inclusion.

Impact investing, putting money in ventures that affect society, accounted for 23 per cent of overall private equity transactions in India last year. This was spread over 80 deals worth $390 million, according to data from Unitus Capital, an advisory firm. Unitus expects a 30 per cent increase in impact investing in 2014.

Unitus added there was an uptick in farm businesses, healthcare and education and this coincided with increased capital flowing in from global investors into innovative Indian impact investments.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, March 22 2014. 22:43 IST
RECOMMENDED FOR YOU
.