Incofin’s India Progress Fund successfully raised ₹450 Cr

Incofin manages assets and investments in emerging markets with the goal of promoting equitable growth.


Main Highlights

The first closure of Incofin Investment Management’s India Progress Fund (IPF), which focuses on financial inclusion and agriculture, was announced on Thursday at Rs 450 crore. According to Incofin IM, the fund would undertake private equity investments in the agro-food value chain and financial services in rural India.

Services provided by Incofin

Incofin, founded in 2001, manages assets and investments in emerging markets with the goal of promoting equitable growth. Leading development funds, banks, insurance companies, pension funds, alternative investment funds, high net worth individuals, and retail investors are among the investors.

It fosters physical and cultural connection to the investees by having 5 offices worldwide and more than 25 nationalities in a 70-person team that operates decentralized. They are strongly linked with the investees’ business and social aims and can be depended on to be the first point of contact for help. They are responsive and quickly transform the objectives of their investors into actions and results.

Incofin is motivated by both entrepreneurial spirit and personal concern. Their solutions with a global impact encourage inclusion in communities and give chances for disadvantaged or underprivileged individuals to improve their life.

They share and support the investees’ entrepreneurial passion, as well as their everyday problems and triumphs, which are anchored in local reality. Incofin assists them in developing and improving the performance of their businesses by sharing information acquired from years of on-the-ground experience throughout the world. Since 2001, they have expanded their business from a small team to a global independent impact investment management firm.

We like collaborating with investors and portfolio firms who share our objectives. With over 30 equity investments, over ten exits, and over 110 debt investees, we are happy to report that we have helped establish and sustain robust institutions that serve millions of customers internationally, particularly rural companies and smallholder farmers.

A broad group of private and institutional investors, including CDC, Proparco, Korys, BIO, and numerous Belgian family offices and foundations, have contributed the cash. The India Progress Fund would provide patient financing, mentorship, and access to a worldwide network to entrepreneurs. The IPF will concentrate on two areas that have the greatest social impact: financial inclusion and the agri-food value chain.

Modernization of the agricultural value chain and rural financial inclusion are underinvested opportunities in India with tremendous potential for rural impact and the creation of meaningful companies. We are thankful to our investors for allowing us to carry out this investment plan, said Rahul Rai, Partner at Incofin IM.

With an investment amount of Rs 25-70 crore, the fund would focus on minority investments. Incofin IM has a decade-long presence in India, with successful growth capital investments made by local teams in Chennai and New Delhi.

Incofin has previously invested in Fusion Microfinance, SAVE Solutions, Sohan Lal Commodity Management, Annapurna Finance, and Light Microfinance in India.

Aditya Bhandari’s Verdicts

“Incofin has first-hand practical rural market expertise during the previous 13 years of being present in India.” Microfinance success will be carried forward to the huge unmet missing middle. According to Aditya Bhandari, Partner Incofin IM, the IPF will support entrepreneurs that want to disrupt the existing status quo while transitioning from an informal to a formal market system.

The Incofin Impact Fund is a private equity impact fund managed by Incofin Investment Management, also known as Incofin Investment IM.

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