Nuveen acquires 25% stake in Indian impact investor Aavishkaar-Intellecap for $32m

Vineet Rai, chief executive of Aavishkaar Venture Management Services, sees Indonesia as the next hub of impact investing. Photo: Mint

Nuveen, the investment subsidiary of US-based asset manager Teachers Insurance and Annuity Association (TIAA), has invested $32 million in Aavishkaar-Intellecap Group, India’s largest homegrown impact investor.

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