The Government Invests $500 Million On This Startup

KOLKATA: Belgium-based Incofin Investment Management, which holds equity in India’s top microfinance companies, is now planning an $80-million fund exclusively for investing in India. This firm is also planning to spread its investments into food and agricultural sector.

The fund is seeking a majority of contribution from overseas investors.

“India Progress Fund will be our first country focused fund,” Incofin’s partner and co-head for Asia investments, Aditya Bhandari told ET.

The firm has over $1 billion asset under management with investments in 316 companies in 45 countries. Besides equity investments, it also provides debt capital.

Incofin’s main focus has been the creation of social impact. “The fund aims to reach the most vulnerable and disadvantaged people in society. Already in the first step of the investment process, in the selection of microfinance institutions, Incofin pays much attention to social impact,” it said in its 2017 annual report.

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