By Sneh Susmit
Existing investor Lok Capital also participated in this round of funding.
The program has been launched in association with the Essel Group and will be powered by TiE Mumbai, a non-profit global community.
IndusInd sees a big opportunity in impact financing as it feels it is an underserved area, given that most mainstream banks are unable to underwrite such loans due to high risk perception.
One to Watch aims to invest in 15 companies with the new fund, with ticket sizes of $300,000-1 million. Supporters of the fund include Peter Tropper, the former chief investment officer in IFC’s private equity group, and the Dutch Good Growth Fund (DGGF) that supports development-related investments in low and middle-income countries.
The debt and equity round also saw the participation of Eight Roads Ventures and Bamboo Capital Partners
Rockstart Impact’s accelerator programme in Myanmar is open to applicants until January 19 and will start on March 5.
The funding by IFC takes CleanMax’s total institutional fundraising to $100 million.
Miners are accelerating efforts to examine renewable power generation and storage in an act of self-help.
The Satya Bharti University, to be set up in north India with a capacity to enrol 10,000 students, hopes to attract academics from across the world.
It is also looking to increase exposure in private equity funds that meet the impact criteria.