Jan 25 2017

NEW DELHI: The Aavishkaar-Intellecap Group has raised $25 million (about Rs 166.3 crore) from two new investors, as the impact investing-to-financial advisory services group looks to expand its bouquet of services along with its presence outside Asia.

The Group has raised $15 million in equity financing from Triodos Investment Management, the investment arm of European lender Triodos Bank, and an additional $10 million from the Shell Foundation, the independent charity established by the Shell Group.

Both investors have taken a minority stake in the company. Proceeds from the transaction, raised at the holding-company level, will be used by the Aavishkaar-Intellecap Group to significantly scale its operations, provide support and scale to its debt businesses and to ensure Intellecap’s advisory business is replicated, particularly, in Africa, a growing geographical focus for the company.

“We will be focusing on Asia and Africa over the next 8-10 years. We intend to scale ourselves up by almost 10 times over this same period, and intend to take $3.5 billion of assets, which will be essentially used to support entrepreneurs in these geographies,” Vineet Rai, founder, Aavishkaar-Intellecap Group, told ET.