By Aastha Maheshwari
The investment has been made through Patamar Capital’s women SME-focused impact fund.
The bonds with a tenor of five years will be exclusively applied to finance eligible green projects.
The deal marks the first issuance of green bonds in India’s impact investing space, said Northern Arc.
Vivriti Capital received approval from the Reserve Bank of India to float an NBFC in January 2018.
Omidyar Network, Ford Foundation and Resonance Impact Fund have come on board as new limited partners (LPs) at Capria.
The new capital will enable the startup to accelerate its expansion across Myanmar.
The green fund would likely target electric vehicles, manufacturing, farming practices and energy-efficient commercial buildings.
The private equity firm launched its inaugural fund in 2017 to invest in insurance firms and non-bank financial services companies in Indonesia, the Philippines, Vietnam, Thailand and Cambodia.
The funds will be extended in the form of a sub-debt, which will be used by the bank to support microfinance borrowers.
The fund of funds has secured commitments from Vulcan Capital ($20 million), Omidyar Network, Ford Foundation, Bill Gates, IFC and Resonance Impact Fund.