India’s biggest homegrown impact investor by size of investments, Aavishkaar Group, plans to raise $300 million for its South Asia-focused fund early next year to invest across financial services, agriculture, energy and health, said a senior executive.
The fund will be used for investments in Vietnam, Indonesia, Myanmar and Laos among others. “We are avoiding India and China, and looking more at smaller markets which have unutilized potential,” said Vineet Rai, managing partner and chief executive of Aavishkaar Venture Management Services. Aavishkaar is part of the Aavishkaar-Intellecap conglomerate, which also owns companies such as IntelleGrow, a non-banking financial company (NBFC) which lends to small and medium enterprises; Tribe, a fintech platform connecting lenders to small entrepreneurs; and Arohan, an east-India focused microfinance lender.
“I see Indonesia as the next hub of impact investing. Like India, it has a high density of population and business models are very scalable. It also has a cultural connect and similarities with an evolving private equity/venture capital system,” he added.
There has been no mention of investments in SAARC countries