Our investment
In 2017, CDC invested $25 million into Faering Capital Fund III, alongside other DFIs and foreign institutional limited partners. Faering Capital is targeting to raise $200 million to provide much-needed growth capital to mid-market companies in India.
Expected impact
Fundraising for India’s private equity market has been difficult, and the sector is at a critical point in its development. Our investment will aim to help address the critical gap in the access to finance for mid-sized companies.
As well as patient capital to support their growth, the fund will provide strategic expertise and guidance to investee companies.
The Faering team has already invested in three companies, including Prataap Snacks, a packaged snacks company with a pan-Indian presence in semi-urban and rural markets; and Utkarsh Small Finance Bank, a micro-finance institution catering to lower income groups in urban and rural areas.
Environmental and social aspects
We will work closely with the fund manager to improve its existing Environmental and Social Management System, including hiring a dedicated E&S manager.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.
- Financial services, Food and agriculture, Health, Manufacturing, Other consumer services
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Faering Capital Advisors LLP
- Start date
:
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- November 2017
- Amount
:
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
- $25m
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- Mauritius
Investments made by this fund
- Active
- Exited
| Investment name | Country | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
| BookMyForex | India | South Asia | Manufacturing | February 2016 | Active |
| Prataap Snacks | India | South Asia | Food and agriculture | June 2016 | Active |
|
Utkarsh Small Finance Bank
Based in Uttar Pradesh, Utkarsh is a small finance bank which provides financial services to the under-served low-income rural and urban population in north and east India. It started operating back in September 2009, and provides group loans, micro, small and medium enterprise (MSME) loans, housing loans and savings accounts to the unbanked population in its heartland. |
India | South Asia | Financial services | October 2017 | Active |
| WheelsEMI | India | South Asia | Financial services | December 2018 | Active |
|
Finova Capital Private Limited
Finova Capital is an Indian MSME financing company. The company's aim is to reach out to the financially excluded MSME sector. The objective is to make finance available at a reasonable cost and deliver in a transparent manner. |
India | South Asia | Financial services | March 2019 | Active |
|
Computer Age Management Services Private Limited
Computer Age Management Services (CAMS) is India's largest Mutual Fund Transfer Agency. It's a service partner to AIFs, insurance companies, banks and NBFCs. |
India | South Asia | Other consumer services | April 2019 | Active |
|
Max Bupa HI
Max Bupa is a health insurance company in India that provides affordable health insurance. |
India | South Asia | Health | December 2019 | Active |
|
Go Digit
Go Digit is a general insurance company in India. Its services include car insurance, travel insurance, home insurance, commercial vehicle insurance, and shop insurance. |
India | South Asia | Financial services | January 2020 | Active |
|
Pureplay Skin Sciences
Pureplay Skin Sciences is a producer of vegan beauty products in India. |
India | South Asia | Other consumer services | November 2020 | Active |
|
FSN E-commerce Ventures
FSN sells cosmetic products, personal and home accessories to consumers in India through the e-commerce platform Nykaa.com |
India | South Asia | Other consumer services | November 2020 | Active |
