Active Stocks
Thu Mar 28 2024 13:39:23
  1. Tata Steel share price
  2. 155.45 1.70%
  1. HDFC Bank share price
  2. 1,454.45 0.95%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
  1. ITC share price
  2. 429.05 0.25%
  1. State Bank Of India share price
  2. 755.05 2.86%
Business News/ Companies / News/  Aavishkaar raises $94 million from KFW and others
BackBack

Aavishkaar raises $94 million from KFW and others

Since its first closing, Aavishkaar II has made seven investments in early stage enterprises

A second closing of the fund was achieved in December, the fund said. Photo: Pradeep Gaur/Mint (Pradeep Gaur/Mint)Premium
A second closing of the fund was achieved in December, the fund said. Photo: Pradeep Gaur/Mint
(Pradeep Gaur/Mint)

Mumbai: Aavishkaar II, a venture capital fund, which invests in underserved segments of the economy, said Thursday that it has raised $94 million (Rs573 crore) at its final closure, with lead investments from German development bank KFW and other institutional investors.

The fund had completed its first round of funding in September 2011, with commitments from International Finance Corp., CDC, KFW and FMO, amongst the development finance institutions, and Cisco representing private corporation capital, the fund said in a statement. A second closing of the fund was achieved in December, it said.

Since its first closing, Aavishkaar II has made seven investments in early stage enterprises across agriculture, dairy, education, technology for development and renewable energy sectors. IFC anchored the fund’s first closing, it said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 08 Aug 2013, 08:41 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie