Acumen is developing a dedicated fund for India, the impact investor’s largest market.
To date, Acumen, headquartered in New York, has deployed $100 million globally and about $32 million in India, but nearly all of its funds have been raised from U.S. investors.
The firm wants to raise capital locally in India and deepen partnerships with banks and tech firms to support its portfolio.
Acumen’s Ajit Mahadevan did not specify how much Acumen hopes to raise. Acumen launched its India office in 2006 and has ramped up investing in the country over the last three years.
It now has made 27 investments in India, including emergency medical services provider Ziqitza Health Care; affordable housing firm Aarusha Homes; Labournet, which provides training for informal sector workers; and Our Family Clinic, a chain of primary health clinics.
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