Chetna Organic is a producer company that works with over 15,000 small and marginal farmers towards improving their livelihood options and making farming a sustainable and profitable occupation. Chetna works with farmers from the rain-fed regions of Maharashtra, Odisha and Andhra Pradesh covering around 35,000 acres. The company undertakes promotion, procurement and marketing of organic cotton and encourages sustainable and environmentally friendly agriculture practices. Caspian is a debt partner of Chetna Organic through its multi-sector impact debt fund Caspian Impact Investments.
Drishti offers quality, affordable eye care services covering primary and secondary eye care in underserved markets with an operating model that is designed to cover distributed populations. Founded in 2011 by Kiran Anandampillai, the company currently has operations in Devanahalli (~35 kms from Bengaluru city) and adjoining areas. With the support of Lok Capital, a member of IIC, it has reached out to 24,800 patients, out of which 10,100 are women. Drishti also provides its services through mobile camps in rural villages. About 88% of the surgeries are free of cost while paid surgeries are affordably priced at INR 6000. Drishti also runs one year ophthalmic assistant training program that provides training to the local population.
Equitas as was founded by Vasudevan who had a vision to build a successful Microfinance Institution (MFI) that makes finance available to its clients at a reasonable cost in a trasnparent manner. Back in 2008, Aavishkaar, a member of IIC, made a decision to invest in the company just few weeks after Equitas distributed its first loan. Today Equitas runs a financial services business that reaches out to a client base of 1.8 million people across seven states with 330 branches. Furthermore, its impact transcends microloans, with its health, education, vocational training and food security programmes that are serving millions of people. Caspian and IFC, members of IIC, have also invested in Equitas.
Fusion Micro Finance Private Limited (Fusion) is an NBFC-MFI registered with the RBI receiving their NBFC-MFI license on 28th January 2014.Fusion set up in May 2009, promoted by Mr. Devesh Sachdev and Mr. Ashish Tewari started operations in January 2010 acquiring Ambience Fincap Private Limited (Ambience) established in 1994. Fusion operates through 5 states and 61 districts in Haryana, Uttar Pradesh, Madhya Pradesh, Uttrakhand and Delhi through a network of 61 branches with a portfolio size of INR 2,790 million as of 31st March 2015. Majority of Fusion’s shares are held by Incofin and Norwegian Microfinance Initiative. Promoters hold 16% stake in the entity.
Grameen Financial Services transitioned into a for profit structure with an investment by Aavishkaar Goodwell (AG) in 2008. Grameen Koota as a not-for-profit had been working with the marginalized sections of society and post transition, Grameen Financial Services (GFS) continued with this unflinching focus. Aavishkaar, a member of IIC, worked with the GFS team to raise its next round of capital without an investment banker and brought in investors aligned with the company’s focus on impact in order to bring in the capital to scale
Janalakshmi is an industry leader in the microfinance space in India. It has a portfolio exceeding INR 2500 Crores and over 1.7 million clients across 16 states. Janalakshmi’s market-based approach to financial inclusion is defined by three distinct characteristics: an exclusive focus on servicing the needs of the urban poor; a strong customer-value driven approach in designing financial products and services and the centrality of technology and processes as the foundation of a scalable enterprise. Caspian, Michael and Susan Dell Foundation and Lok Capital have invested in the Company in multiple rounds over the years and also provided debt support at critical junctures in the early years. Caspian’s first fund Bellwether exited Janalakshmi after a holding period of more than 7 years while its second fund IFIF remains invested in the company.
LabourNet started in 2006 as an initiative of Movement for Alternatives for Youth Awareness (MAYA), a non-governmental organization based in Bangalore. In 2011, it metamorphosed in to LabourNet as a national livelihood enabling social enterprise. In the last eight years, it has trained more than 100,000 trainees, added 23 livelihood centers, 71 schools and provided more than 185 on-site training programmes across 25 states. Michael & Susan Dell Foundation and Acumen, IIC Executive Council members, have invested in LabourNet. Ansar Alam, a construction worker trained at LabourNet, says “I have become more confident and certainly improved my livelihood as well with which I am able to take care of my family in a better way”.
Mandala Apparels is nestled in Puducherry and focuses on the textile industry.Mandala Apparels strives to promote environment-friendly and fair trading practices by ethical sourcing from local organic cotton farmers and manufacturing organic fair trade textiles for premium brands in the international market. Mandala’s garment manufacturing facility in Puducherry in South India employs over 100 people from surrounding villages, more than 70% of whom are women. Aavishkaar, a member of IIC investment, has invested in Mandala Apparels and has supported it in scaling its operations and expanding its supply on a global scale.
Milk Mantra has been founded by Srikumar Misra who envisioned building an ethical supply chain for milk sourcing and a high-quality dairy in milk-parched Eastern State of Odisha. Milk Mantra has created sustainable livelihood opportunities for thousands of local people with the help of Aavishkaar, a leading impact investor and anchor-member of IIC, whose multiple rounds of investments have supported in scaling the company. It has 15,000 dairy farmers in its network and sources about 36,500 liters of milk per day. The company has attracted mainstream investors like Fidelity and provided exit to Aavishkaar’s first fund!
Naandi Education Support And Training is a for-profit spin-off of the non-profit Naandi Foundation and it seeks to address the whitespaces in the space of affordable learning through the development of a chain of affordable learning centers in low-income neighborhoods with the help of Michael and Susan Dell Foundation, a member of IIC. Each learning center offers academic coaching based on a proven approach developed by the Naandi Foundation. Independent assessments found that, from 2005 to 2009, the pedagogy which was developed with grant support from the foundation improved student learning outcomes by an average of 30 percent.
Skymet was founded in 2003 by Jatin Singh. Skymet Weather Services is the first private sector company in India with its own prediction models for weather forecasting. It works to achieve its specific goal of providing easily accessible weather information to Indian farmers to improve their livelihood possibilities. In its early stages, Skymet received funding from IIC member, Omnivore Partners. Currently, Skymet’s numerical prediction models are used to create forecasts for 7,000 locations in 13 states across India.
Satin Creditcare Network Limited (Satin) promoted by Mr. H.P. Singh and Mr. Satvinder Singh and established in 1990 is an NBFC-MFI registered with the RBI and received their NBFC-MFI license on 6th November 2013. Satin operates in 11 states which include Uttar Pradesh, Madhya Pradesh, Bihar, Uttrakhand, Delhi, Punjab, Rajasthan, Haryana, Maharashtra and Jammu & Kashmir through 267 branches with a portfolio size of INR 21,400 million as of 31st March 2015. The majority shareholders after the promoters in Satin are Danish Microfinance Partners, Shore Capital and Micro Vest. Promoters hold 33% stake in Satin.
Ujjivan is a pioneering Microfinance Institution (MFI) with the mission of providing financial services to the economically active ‘urban poor’ to help alleviate poverty. Ujjivan has disbursed loans worth INR 68 billion and has total outstanding loan portfolio of INR 16.17 billion. Ujjivan’s customer base comprises only of women and 22.4% of its total employees are also women. It operates 98 branches across 48 under-banked districts. 30% of the borrowers belong to Other Backward Classes (OBC) and 5% belong to Scheduled Tribe (ST) category. With the help of investments from International Finance Corporation, Caspian, Michael and Susan Dell Foundation, Lok Foundation and Unitus, all IIC members, Ujjivan has managed to expand its offerings and and outreach.
Vistaar Finance has the objective of making financing available at a reasonable cost in a transparent manner. It aims to continuously attract mainstream capital and human resources, to serve the chosen segments effectively. The company targets the missing middle segment, consisting of enterprises with an annual turnover of INR 120,000 – 1,000,000 which is not effectively served by the formal financial system. Vistaar is now present in 79 branches across 16 different clusters. As a result, Vistaar is now supporting over 27,500 micro and small enterprises across 4 states. Overall, Vistaar has disbursed loans to 51,700 customers till date. 65% of the loans cater to the weaker sections of the society. Key investors of Vistaar include IIC members, Elevar, Lok Capital and Omidyar Networks. .