Original disclosure @ IFC website
Updated in EWS Mar 31, 2023
Disclosed by Bank Mar 22, 2023
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According to IFC, the proposed investment is an equity investment of up to US$20 million, not exceeding 20% of the total commitment, and an additional co-investment envelope of up to US$15 million under the delegated authority framework, in Aavishkaar India Fund (IFSC) VI (the “Fund” or “Fund VI”), a private equity (PE) fund focused on providing growth capital to small and mid-sized companies in India and together with Aavishkaar India Fund (Mauritius) VI (Mauritius Fund) and Aavishkaar India Fund VI (India Fund) is targeting US$200 million in total commitments. Consistent with the prior fund, Fund VI will continue to focus on its key strength of targeting investment in small and mid-sized companies in the sectors of financial inclusion, sustainable agriculture, and essential services. The Fund is expected to size its average ticket per company in the range of US$5-20 million in c.15 companies.
The Fund, together with the Mauritius Fund and the India Fund, is seeking to raise US$200 million in aggregate capital commitments. IFC proposes an equity investment of up to US$20 million in the Fund (capped at 20% of total commitments). Additionally, a delegated authority co-investment envelope for an amount of up to US$15 million in potential co-investments in the Fund’s portfolio companies is also being proposed alongside the Fund commitment.
The Fund will be managed by Aavishkaar Venture Management Services Private Limited (“Aavishkaar Capital” or the “Fund Manager”). Aavishkaar Capital is led by Vineet Rai.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Aavishkaar Venture Management Services Private Limited||Undisclosed||Agriculture and Forestry|
Aavishkaar Venture Management Services Private Limited
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