Aavishkaar Capital Invests INR 16 Crore In INI Farms
ESG First Fund, managed by Aavishkaar Capital (Aavishkaar), an Aavishkaar Group company and a global pioneer in taking an entrepreneurship-based approach to scaling businesses for impact, and set up in partnership with KfW, a German state-owned development bank, announced their first investment of INR 16 Crore from the ESG First Fund into INI Farms. ESG First Fund is a $250 million fund focused on investing in Asia and Africa with the mandate of generating superior Environmental, Social and Governance (ESG) outcomes and commercially viable financial returns alongside positive social impact. The Fund was established with the primary objective of improving these areas especially along the supply chains serving the European markets.
“We are excited to invest in INI Farms and support them in their next phase of growth as it expands its product offering and geographical reach. Aavishkaar Capital is excited to foray into structured credit products with ESG First Fund and we look forward to partnering with high growth businesses across Asia and Africa that are operating in global supply chains. We are committed to empowering such businesses with non-dilutive and flexible financial solutions that are better aligned to their growth needs,” said Abhishek Mittal, partner- credit – Aavishkaar Capital.
Aavishkaar Capital invests in high environmental and social impact sectors across India, Emerging Asia, and Africa. Aligned to 13 out of the 17 Sustainable Development Goals, Aavishkaar Capital has successfully raised eight funds, while generating commercial returns with over $555 million in assets under management, according to an official statement by the company.
“The agriculture story in India is poised for a multi-fold growth. We believe that large platforms providing end-to-end services to the farmers from advisory and inputs to output offtake is going to drive this transformation. This investment will provide us with a great opportunity to grow multi-fold with expansion into the entire agriculture output business and leveraging our strong supply chain capabilities,” said Purnima Khandelwal, CEO and co-founder, INI Farms.