Indian social entrepreneurship-focused venture capital fund, Aavishkaar has raised Rs 500 crore to make investments in foreign startups. The firm will invest through the Aavishkaar Frontier Fund in countries like Pakistan, Bangladesh, Sri Lanka and Indonesia. It has already raised Rs 300 crore and the remaining capital is expected to come in next few months.
As per ET report, the investments will be in sectors like healthcare, education, sanitation, agricultural services, energy and technology among others. Aavishkaar has been operational for the last 10 years, currently it has about $150 million under management, having made around 50 investments through its four funds. It has invested mostly in startups in rural or semi-urban areas, and sometimes it has been a seed investor.
The firm has received funding from two major investors from Germany and Netherlands.