Dealflow | April 18, 2017

IntelleGrow to raise $100 million to meet capital demand from Indian social ventures

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CEO Akbar Khan, the former GE executive who joined IntelleGrow in November, is charting an aggressive growth strategy for the company.

The venture debt arm of India’s Intellecap Group plans to raise $100 million in debt and equity this year to finance young, high-risk and under-banked companies in social sectors in India.

“As our customers grow, their demand for more capital also increased,” says Khan.

Separately, IntelleGrow is raising a $20 million debt fund to extend longer-term loans to its clients.

Last year, the firm raised $28 million from Triodos, Developing World Markets, Omidyar Network, Calvert Foundation and OPIC.

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