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Social VC investments down 47.5% in first 9 months
Social Ventures attract 11 investments worth $45-M in Q3’12
The Rs.80 crore (about $14.5 million) fourth round funding raised by Bangalore-based urban microfinance firm Janalakshmi Financial Services (from Gawa Microfinance Fund, the India Financial Inclusion Fund and well known investment banker Vallabh Bhanshali) was the largest investment in the social sector during Q3’12. Apart from Janalakshmi, the period also witnessed four other microfinance firms attracting investments. In a transaction funded by Aavishkaar, IntelleCash Microfinance Network acquired a 56% stake in Kolkata-based microlender Arohan Financial Services providing an exit for existing investor Bellwether Microfinance Fund. Bellwether also exited Bangalore-based Ujjivan Financial Services by selling its stake to Lok Capital. In addition, Bangalore-based Vistaar Livelihood Finance and Allahabad-based Sonata Finance also attracted investments during Q3’12.
Omidyar Network backed Kolkata-based low cost BPO iMerit Technology Services, a spin off from the NGO Anudip Foundation, while Ventureast and responsAbility invested in rural BPO firm Desicrew Solutions. Bangalore-based Babajob Services, which runs online job portal babajob.com for office and domestic help workers, raised capital from Gray Ghost Ventures, Vinod Khosla and other angel investors.
Acumen Fund announced two investments in the latest quarter – $250,000 as debt and equity in Avani Bio Energy and $300,000 in Edubridge Learning. Pittoragarh, Uttarakhand-
The data for this note has been sourced from the Venture Intelligence Social Venture Investments Database (http://www.ventureintelligence.in/