Private Equity

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Aavishkaar Capital joins hands with Germany's KfW to launch $250-M ESG First Fund

Mint  

Mumbai-based impact investor Aavishkaar Capital in partnership with KfW, a German state-owned investment and development bank, has launched a USD 250 million ‘ESG First Fund' focused on strengthening the Environmental, Social and Governance (ESG) practice of mid-cap businesses while offering them flexible capital to scale to new markets. The fund will focus on Africa and Asia with the mandate of generating superior ESG outcomes and commercially viable financial returns alongside positive social impact. The sector-agnostic fund will focus on companies with high exports towards Europe. It will look to invest in companies with revenues of INR 50 crore to INR 250 crore. The fund has a life of 15 years. Aavishkaar Capital has so far raised six funds with USD 400 million in assets under management.