About Aavishkaar Capital
Founded in 2001, Aavishkaar Capital is a pioneering impact investment firm based in Mumbai, India. As part of the Aavishkaar Group, it focuses on early to growth-stage investments in enterprises that address critical challenges in underserved markets across India, Emerging Asia, and Sub-Saharan Africa. With a mission to bridge the opportunity gap for the emerging 3 billion, Aavishkaar Capital has raised eight funds, managing assets over $1.45 billion, and has invested in more than 80 companies to date.
Mission and Philosophy
Aavishkaar Capital operates on the belief that sustainable businesses can drive significant social impact while delivering commercial returns. Their investment philosophy centres around:
- Impact at Scale: Investing in enterprises that create measurable social and environmental impact.
- Entrepreneurial Support: Providing not just capital but also strategic guidance to entrepreneurs.
- Sustainable Development Goals Alignment: Aligning investments with 13 out of the 17 UN SDGs.
Focus Areas
Aavishkaar Capital targets sectors that are pivotal for inclusive development:
- Financial Inclusion: Supporting enterprises that provide access to financial services for underserved populations.
- Sustainable Agriculture: Investing in agritech and supply chain solutions that benefit smallholder farmers.
- Essential Services: Backing businesses that offer critical services like healthcare, education, and clean energy.
Their investment strategy emphasizes scalable business models with strong unit economics and a clear path to profitability.
Portfolio Highlights
Aavishkaar Capital has a diverse portfolio of impactful enterprises, including:
- AgroStar: A digital platform providing agronomy advice and quality farm inputs to over 7 million farmers in India.
- Altum Credo: A housing finance company facilitating affordable home loans for low-income families.
- Electronica Finance: A non-banking financial company offering equipment financing to SMEs.
- Go Desi: A packaged food startup bringing traditional Indian snacks to modern retail formats.
- Zouk: A D2C brand offering vegan and sustainable fashion accessories.
Capital Structure
Over the years, Aavishkaar Capital has launched multiple funds:
- Fund V: Closed in 2019 with a corpus of INR 8 billion (~$92 million), focusing on early-stage investments.
- Fund VI: Closed at $150 million, 40% deployed as of Q1 2025, with a shift towards growth-stage companies.
- Fund VII: Planned for launch late part of 2025, targeting a corpus between $200 million and $300 million, with an emphasis on mature, scalable enterprises.
Aavishkaar Platform
Beyond capital, Aavishkaar Capital offers comprehensive support through the Aavishkaar Group’s ecosystem:
- Intellecap: Provides advisory services, research, and ecosystem development for inclusive businesses.
- Arohan: A microfinance institution catering to under-served households.
- Ashv: Offers customized loans to MSMEs, enabling their growth and sustainability.
Diversity & Inclusion
Aavishkaar Capital is committed to fostering diversity and inclusion within its portfolio and operations. Notably, it was the first fund manager in Asia to qualify for the 2X Challenge Flagship Initiative, promoting women’s economic empowerment.
Sustainability & Impact
Impact is at the core of Aavishkaar Capital’s investment approach. Their invested enterprises have impacted over 136 million lives. They integrate ESG assessments into their due diligence process and actively monitor impact metrics throughout the investment lifecycle.
ESG & Impact Measurement
- Integrated ESG assessments during diligence and portfolio monitoring
- Investments mapped to UN Sustainable Development Goals (SDGs)
- Reports aligned with international frameworks like IRIS+ and GIIN
Team:
| Team Member | Team | Designation | Location | Social Presence |
| Abhishek Mittal | Investments | Partner – Credit | Mumbai | |
| Amol Ganu | Operations | VP Finance | Mumbai | |
| Ankita Satpathy | Investments | Associate Director | Mumbai | |
| Anurag Agrawal | Investments | Partner | Mumbai | |
| Ashish Patel | Investments | Partner Credit | Nairobi, Kenya | |
| Darren Lobo | Investments | Associate Director – Credit | Nairobi, Kenya | |
| Divya Gupta | Investments | Director | Mumbai | |
| Ekta Shah | Operations | AVP, Finance & Accounts | Mumbai | |
| Monu Jain | Investments | Partner Credit | Delhi | |
| Sanchayan Chakraborty | Investments | Partner | Mumbai | |
| Shamkant Joshi | Operations | Managing Director, Finance | Mumbai | |
| Shashvat Rai | Investments | Partner | Mumbai | |
| Shriya Khanna | Operations | Senior Manager, Investor Relations | Mumbai | |
| Sohit Singh Anand | Investments | Associate Director | Mumbai | |
| Sowmya Suryanarayanan | Impact & ESG | Director – Impact & ESG | Mumbai | |
| Tarun Mehta | Investments | Partner | UAE | |
| Vineet Rai | Investments | Founder and Managing Partner | Mumbai |
What Aavishkaar Looks for in Founders
Aavishkaar Capital prioritizes:
- Mission Alignment: Deep-rooted intent to address social, economic, or environmental challenges.
- Market Insight: Strong understanding of underserved or underpenetrated segments.
- Operational Rigor: Ability to balance impact creation with sound unit economics and scalability.
- Resilience: Founders who can navigate emerging markets with grit and adaptability.
- Community Connection: Preference for entrepreneurs working closely with rural or grassroots populations.