The Belgian impact investment firm has a long-standing India strategy, with Indian investments comprising 15% to 20% of prior funds.
Its planned India Progress Fund will be Incofin’s first country-specific fund. It is looking to raise $80 million, mostly from international investors. It will invest in food and agriculture startups and financial services firms like Veritas Finance, which it backed in April.
- Fundraising tear… Incofin recently reached a $140 million fundraising milestone for its global smallholder farmer finance fund, agRIF.
- Portfolio snapshot… Incofin’s has more than $1 billion in debt and equity investments under management. Its investments have a strong gender focus, with 74% of its investees’ clients being women.
Editor’s note: A previous version of this post incorrectly stated Incofin’s AUM. The firm has over $1 billion in assets under management.