Vineet Rai, founder of the Aavishkaar-Intellecap Group
- India-based impact investor Aavishkaar-Intellecap Group has closed its Aavishkaar Bharat Fund at US$95 million. The fund can now start to invest the capital it has raised, while it aims to reach a capital target of US$200 million within the next 12 to 18 months.
- Unilever, the Anglo-Dutch consumer goods firm, and the government of Norway, have rolled out plans for a US$400million climate resilience fund that will support firms committed to agriculture, inclusion of smallholder farmers and sustainable forestry.
- International Finance Corporation (IFC) has acquired a 7.5 percent equity stake in the Afghanistan International Bank (AIB) to help the lender increase its commercial lending portfolio for financial inclusion among small and medium-sized enterprises (SMEs).
- Venture capital fund Lok Capital, based in New Dehli, has closed its third vehicle for financial services, agribusinesses and healthcare at US$90- US$100 million. The fund has already deployed 60 percent of its capital, around US$5.6 million of which has been invested in affordable housing finance company Ummeed Housing Finance.
- UE LifeSciences Inc, a medical technology start-up, has struck a commercial partnership with GE Healthcare to assist in marketing and distributing its breast cancer screening technology in countries across South-Asia, South-East Asia and Africa.
- The Development Bank of Nigeria has recently announced a total loan extension of US$13.8 million towards three microfinance banks for onward-lending to Nigerian MSMEs. The investee lenders include Fortis Micro finance Bank Plc, LAPO Microfinance Bank Limited and NPF Microfinance Bank Plc.
- The European Bank for Reconstruction and Development (EBRD) has lent Santefarm, the largest pharmaceutical distributor in Kosovo, €1.5 million for the construction of a greenfield logistics centre. Santefarm supplies generic and branded drugs, over-the-counter products and medical materials to more than 600 pharmacies throughout the country.
- The UK’s development finance institution, CDC Group, has invested €46 million to support affordable business hotels across the Africa continent. The investment supports the pan-African 3-Star group, ONOMO Hotels, which targets African business travellers crossing the continent.
- The Union Internationale de Banques (UIB), a Tunisian lending institution, has established a partnership with the French development finance institution Proparco to provide technical support to small businesses as it seeks to strengthen the country’s SME base.