Elevar Equity to invest Rs 240 cr

Elevar Equity Advisors Pvt Ltd is planning to invest around $50 million (Rs 240 crore) in various start-up companies.

The Bangalore-based private equity fund manages two funds — Elevar Equity II and the Unitus Equity Fund (UEF) — worth around $100 million (Rs 480 crore).

“We have already invested half of the money and will invest the remaining in the next 18-24 months,” Sandeep Farias, founder and managing director, Elevar Equity, said.

Elevar is looking at investing in companies operating in livelihood, microhousing, education and healthcare.

Farias said the company had lined up 10 investment opportunities and would invest $1-5 million for taking equity up to 20-25 per cent in a company. “We will stay with them for five to seven years,” he added

 

While 70 per cent of the money will be invested in India, the remaining would be invested in countries like Latin America including Mexico, Colombia, Brazil and Peru. "We are also looking at countries in Southeast Asia including Indonesia, Philippines and Sri Lanka," he said.

UEF was conceptualised in 2006 by Unitus, a non-profit organisation focused on supporting market-based solutions to reduce poverty.

In 2007, UEF executed its final close with $24 million in capital commitments sourced entirely from private investors. In May 2008, the company launched Elevar Equity II in which investors — Legatum and Omidyar Networks – committed $20 million apiece to the fund.