Social VC Investments
Lending platform for MSMEs U GRO Capital raises Rs.138-Cr from responsAbility
Mumbai-based U GRO Capital has raised its first impact focused debt investment of INR 138 crore from funds managed/advised by Switzerland based investor responsAbility. The ECB transaction was done via a social bond structure created as a result of joint efforts of the Swedish International Development Agency (SIDA), responsAbility and Danske Bank to mobilize USD 177.5 million of debt capital from private investors. U GRO Capital aspires to become the largest MSME platform in India. It currently has 75 branches across nine states. It aims to expand the branch network to 100 by FY2022 and intends to reach 250,000 MSMEs in the coming 4 financial years.
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