New Delhi: Accelerator Group, a US-based investment advisory firm, on Monday announced a $25 million fund to support women-led enterprises in India.
Achieving Women Entrepreneurs (AWE) Fund I will be managed by Seema Chaturvedi, managing director at Accelerator Group. It will invest only in Indian companies owned and led by women entrepreneurs.
“Accelerator Group has domain expertise in manufacturing, healthcare, education and food and agriculture—and IT and ITES that enables these sectors—so our initial interest would be in these areas," Chaturvedi said in an interview.
The fund will look to close commitments for $10 million, primarily from US-based limited partners, by March next year, she added.
Chaturvedi said the fund is motivated from her experience leading All India Roadshow on Women’s Economic Empowerment through Entrepreneurship (AIRSWEEE), a joint initiative by TiE Global and the US Department of State.
Started in September 2016, AIRSWEEE has conducted workshops and imparted training to 125 women in Coimbatore (Tamil Nadu), Warangal (Telangana), Jaipur (Rajasthan), Nagpur (Maharashtra) and Durgapur (West Bengal).