Aavishkaar Venture Management Services Holdco (FMO-56121)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Aavishkaar Venture Management Services Private Limited
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 42.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Sep 5, 2019

Disclosed by Bank Jul 31, 2019


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Project Description

According to the bank website, "The proceeds will be used to provide capital buffer needed to grow the loan books of the underlying non-bank financial institutions of AVMS, and to pursue new initiatives to support their ambition in increasing outreach to the bottom of the pyramid."

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

According to FMO, Aavishkaar Venture Management Services Private Limited ("AVMS") is a holding company and an asset manager based in India. AVMS's main business lines include Microfinance, SME Lending, Fintech, Fund Management, Advisory and Consultancy. AVMS provides both access to finance for underbanked individuals and businesses mainly in India and facilitates investment or directly invests into inclusion focused companies through equity funds and investment servicing the bottom of the pyramid and MSME, but also to build an ecosystem supporting institutionalization of both those market segments. AVMS is expanding its business activities into South East Asia and Africa.

Contact Information

No project-specific contact information available at time of writing.

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism