Our investment
In 2015, CDC invested $30 million in Plenty, alongside the IFC and domestic and international investors. This follows on from CDC's $30 million investment in Multiples I in 2010. The fund closed at a total size of $555 million. The fund manager typically makes investments of between $50 million and $100 million.
Expected impact
Despite improving economic conditions in India there is still a shortage of investment for promising businesses in many sectors of the economy.
Our investment will help the fund manager to build a portfolio of domestic companies which will benefit from strengthening economic growth and consumer demand.
Plenty has completed over ten investments so far. These include investments in Gujarat-based textile manufacturer, Arvind; financial services provider Cholamandalam Investment and Finance; RBL Bank; pharma firm Encube Ethicals; human resources technology company PeopleStrong HR Services; and energy trader, the Indian Energy Exchange.
Environmental and social aspects
The fund manager has a well-established approach to E&S management and we will continue to support and monitor its approach as the portfolio grows.
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.
- Communications and IT Services, Financial services, 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:
- Multiples Investment Advisers
- 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
- April 2015
- 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.
- $30m
- 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 |
|---|---|---|---|---|---|
|
PVR Limited
PVR is the largest multiplex chain in India, with 360 screens across the country and 22% of box office collections of leading Hindi movies. |
India | South Asia | Other consumer services | June 2008 | Active |
|
RBL Bank Limited
India's Ratnakar Bank (RBL Bank) is one of India's fastest growing private sector banks. It specialises in financial inclusion, agribusiness financing and lending to small and medium-sized enterprises (SMEs). Founded in 1943, RBL Bank was traditionally concentrated in Maharashtra, Karnataka and Goa. In 2010, however, a new management team was brought in to pursue a strategy to expand beyond the bank's western India roots. It currently services over 3.98 million customers through a network of 247 branches spread across 20 Indian states and Union Territories. |
India | South Asia | Financial services | January 2013 | Exited |
|
Arvind Ltd
Arvind Ltd is a textile manufacturer. It makes cotton shorts, denim, knitwear and bottomweight fabric. |
India | South Asia | Manufacturing | March 2014 | Active |
|
Vastu Housing Finance Corporation
Vastu Housing Finance Corporation is a platform for housing finance lending which targets lower income groups in smaller cities in India. |
India | South Asia | Financial services | September 2015 | Active |
|
Encube Ethicals Private Limited
Manufacture of topical formulations which help millions of patients around the world get treatment for various topical disorders & diseases |
India | South Asia | Health | September 2016 | Active |
|
PeopleStrong HR Services Pvt Ltd
y & services player in india with coverage across 'hire to retire' value chain |
India | South Asia | Communications and IT Services | March 2017 | Active |
|
RBL Bank Limited
India's Ratnakar Bank (RBL Bank) is one of India's fastest growing private sector banks. It specialises in financial inclusion, agribusiness financing and lending to small and medium-sized enterprises (SMEs). Founded in 1943, RBL Bank was traditionally concentrated in Maharashtra, Karnataka and Goa. In 2010, however, a new management team was brought in to pursue a strategy to expand beyond the bank's western India roots. It currently services over 3.98 million customers through a network of 247 branches spread across 20 Indian states and Union Territories. |
India | South Asia | Financial services | August 2017 | Active |
| Natco Pharma Limited | India | South Asia | Health | October 2017 | Active |
| Sanctum Wealth Management Private Limited | March 2018 | Active | |||
| APAC Financial Services Private Limited | December 2018 | Active |
