Aavishkaar Capital
AUM: $500 million
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Aavishkaar Capital is an early pioneer of impact investing in India. Founded in 2001 by Vineet Rai and headquartered in Mumbai, the firm is part of a group that also includes a microfinance business and an advisory arm. It invests in growth‑stage companies that promote financial inclusion and sustainable livelihoods, with a focus on sectors such as fintech, agritech and transport.
In 2024, Aavishkaar led a ₹43 crore ($5 million) round in POSHS Metal Industries from its Global Supply Chain Support Fund, which is backed by Germany’s KfW Bank. The firm has guided four portfolio companies to public listings and logged ten acquisitions, with key names including Suryoday Small Finance Bank, Utkarsh Bank and Equitas Small Finance Bank. These achievements underscore its deep involvement in financial inclusion.
Aavishkaar Capital manages about $500 million in venture capital and employs 46 people, including 15 partners. The broader Aavishkaar Group managed roughly $1.1 billion in 2020 and has ambitions to grow significantly. The venture arm has participated in more than 50 funding rounds and often partners with other impact investors to scale social enterprises.
