Fund News
Lok Capital achieves first close of its fourth fund at $90-M
Chennai-based impact investor Lok Capital has made the first close of its fourth fund with commitments totalling USD 90 million. Investors in the first close included British International Investment (BII), Dutch development bank FMO, Evolvence, and Blue Earth, as well as the US International Development Finance Corporation (DFC) and OeEB (Austrian Development Bank). Lok IV will invest in financial services, including fintech, health-tech, food and agri-tech, and climate tech, offering cheques for amounts ranging from USD 3 million to USD 15 million. The fund's final close - at USD 150-200 million - is expected by September this year. Lok Capital has hired additional Partners for the new fund including ed-tech entrepreneur-turned-fund manager Hari Krishnan and active early-stage investor Vignesh Ramanujam. Financial services-focused investor Rajat Bansal and solar energy entrepreneur-turned-investor Vikram Dileepan have joined the firm as Principals.
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