IntelleGrow launches $31 million social enterprise debt fund

Inclusive Economics

The company is raising $100 million to finance social startups in India

PC: IntelleGrow

IntelleGrow, the early-stage venture investing arm of Mumbai-based Aavishkaar-Intellecap Group, will provide working capital to fill a gap in social-venture financing in India.

“Companies require long-term working capital and long-term debt [to] finance their equipment, plant and machinery,” IntelleGrow’s Akbar Khan told e27. “A debt fund will be more helpful because it is more attuned to their pay-out structures.”

Startups’ cashflow will be a key investment criterion. IntelleGrow launched in 2012, with backing from the Shell Foundation.

The company is raising $100 million in debt and equity to finance social startups in India. It has backed more than 180 startups in agriculture, healthcare, sanitation, and other social sectors.

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