IntelleGrow launching US$31M venture debt fund to invest in social enterprises

Sainul Abudheen K, writing for e27;

Mumbai-based IntelleGrow — a non-banking financial company (NBFC) which provides debt for working capital needs of early-stage, high-risk SMEs, typically, in the social impact sector — is launching a new fund to the tune of INR 200 crore (approximately US$31 million), its CEO Akbar Khan told e27.

The new fund, expected to go live sometime next year, aims to invest in IntelleGrow’s existing portfolios, as well as new companies.

IntelleGrow has already backed 180 companies across agriculture, clean energy, education, financial inclusion, affordable healthcare, and water and sanitation.