Aavishkaar-Intellecap Group Raises $25M from Triodos Investment Management and Shell Foundation
Founded in 2002, the Aavishkaar-Intellecap Group has Assets under Management of over USD 400 million with over 2500 team members spread across three continents serving a common vision to improve the lives of several billion people.
The Aavishkaar-Intellecap Group, a pioneer in impact investing and an instrumental entity of the impact investing ecosystem globally, today announced raising an equity round of $25 million led by Triodos Investment Management, the investment arm of European lender Triodos Bank, and Shell Foundation, an independent charity established by the Shell Group. Triodos has invested $15 million while Shell has contributed $10 million of the total capital raised. The investment will be infused in the parent company and will enable the group to consolidate and expand its bouquet of ecosystem building initiatives/businesses across the globe.
On the capital raising, Vineet Rai, Founder, Aavishkaar –Intellecap Group says, “As the world chases ambitious Social Development Goals, Aavishkaar-Intellecap Group’s contribution as entrepreneurial ecosystem builders would be seminal in unleashing the entrepreneurial energy toward some of the core challenges around Employment, Health, and Energy & Financial Inclusion that the world desires to address. We also believe that entrepreneurs and businesses may have substantial contribution to make in addressing complex challenges of poverty and hunger. We are excited with our partnership with Triodos Investments and Shell Foundation, who join us as equity holders and as trusted long term partners in our audacious journey of making impact by building businesses with the other 3 Billion.”
Commenting on the investment, Marilou Van Golstein, Chair - Management Board and Managing Director, Triodos Investment Management said, “Triodos Investment Management has found a values-aligned partner in the Aavishkaar-Intellecap Group. We share the belief that entrepreneurship is key in the transformational change that is needed to achieve the Sustainable Development Goals. With this new investment we look forward to continuing our shared journey in building an impact investing ecosystem where entrepreneurship can thrive, creating sustainable livelihoods and contributing to positive change for our planet and society.”
Sam Parker, Director, Shell Foundation said, “India is at the centre of a global economic phenomenon: the emergence of private enterprises delivering public services such as affordable energy, healthcare, education or transportation on a national level. Yet many such enterprises are in their early stages and serve only a relatively small percentage of demand. Our longstanding partnership with the Aavishkaar-Intellecap Group enables foundations, investors, corporates and policy-makers to accelerate the growth of these markets – by providing early-stage funding to the right innovators at the right time. We aim to help social enterprises benefit 100 million people in India and East Africa over the next three years. If we succeed we will demonstrate that enterprises can meet basic needs in ways that are fast, cost-effective and attractive to both governments and investors.”
The Aavishkaar-Intellecap group also announced the formal restructuring which will now have three lines of business namely equity investments under Aavishkaar, Advisory Services under Intellecap and Debt funding vehicles under Arohan, IntelleGrow and IntelleCash. Founded in 2002, the Aavishkaar-Intellecap Group has Assets under Management of over $400 million with over 2500 team members spread across three continents serving a common vision to improve the lives of several billion people.