Impact Investor Acumen To Raise India-Dedicated Fund
Headquartered in New York City, global impact investor Acumen is planning to launch an India-dedicated fund, as the investor plans on raising funds from India.
The company was incorporated in 2001 by Jacqueline Novogratz, with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and individual philanthropists. Acumen’s work in India spans four sectors—healthcare, education, clean energy and agriculture.
Ajit Mahadevan, India director at Acumen said, “Across the four sectors we work in, we will look at these two enabling themes [technology and financing], because on the back of that you can create accelerated impact. All our education companies have a technology element. In agriculture, the focus is on access to markets using technology,” The impact investor is exploring new avenues such as student and school financing, health insurance and MSME debt financing, reports Livemint.
“Acumen has invested over $100 million globally and the largest country is India. About a third of that has been invested in India, around $32 million, making us the largest non-microfinance investor in our sectors,” added Mahadevan.