Our investment
In 2016, CDC invested $20 million into VPF2, alongside Dutch DFI, FMO. The fund manager aims to invest up to $3 million in early stage firms, and between $5 million to $10 million in growth-stage companies.
Expected impact
India’s fast-growing and increasingly urbanised population is creating a demand for technology-based products and services.
Our investment enables the fund manager to provide growth capital to innovative start-ups and early stage firms, particularly those based in rural and semi-urban areas.
The tech fund has already invested in three start-ups – Find Me A Shoe, which offers virtual shoe fitting; OS Labs, which builds platforms for smartphone handset makers; and a digital health firm.
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.
- Business services, Communications and IT Services, Education, Financial services, Health, Other consumer services
- Website:
- http://www.ventureast.net/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- VenturEast
- 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
- June 2016
- 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.
- $20m
- 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 |
|---|---|---|---|---|---|
|
EMBL Retail Inc (FMAS)
EMBL Retail, based in Bangalore, is an e-commerce footwear retail company using a smartphone app for customers to take photos of their foot which are uploaded to the company's cloud server. The 3D plot of the foot is then mapped again a shoe database to enable the customer to obtain the best fitting shoes. |
India | South Asia | Communications and IT Services | September 2016 | Active |
|
Oslabs Pte Ltd
Oslabs has developed the first Android-based regional smartphone operating system made especially for regional language users in emerging markets. |
India | South Asia | Communications and IT Services | September 2016 | Active |
|
Patient Focus Private Ltd (eKincare)
Patient Focus is a telehealth provider of a personalised healthcare service for women via mobile devices, internet, etc. The service connects customers with certified physicians and women's health specialists who treat a wide range of medical conditions. |
India | South Asia | Health | September 2016 | Active |
|
Zipgo Technologies Pvt Ltd
Zipgo, which is based in Bangalore, is an app-based aggregator for mass consumer transport services using route optimisation and demand estimation technology. Urban commuters make their reservation through the zipgo mobile app 5 minutes before their journey and can be assured of a seat in an air-conditioned van or bus. |
India | South Asia | Other consumer services | September 2016 | Active |
|
iNurture Education Solutions
i-Nurture provides degree courses that impart practical and up-to-date skill sets that meet industry needs along with a strong theoretical base. |
India | South Asia | Education | November 2017 | Active |
|
AVR Edge Networks Pvt Ltd
EdGE Networks has developed an IA, NLP and Data Science based comprehensive platform for workforce organisation and talent acquisition with intelligent search and match capabilities. |
India | South Asia | Communications and IT Services | December 2017 | Active |
|
On EMI Technologies (Kissht)
India's leading online consumer lending platform. It enables easy and instant purchase finance options to consumers across a wide variety of channels (online and offline) and purchases (electronics, mobile, consumer durables, furniture). |
India | South Asia | Financial services | December 2017 | Active |
| MGH Labs | India | South Asia | Health | June 2018 | Active |
| Inthree Access Services Pvt. Ltd. (Boonbox) | India | South Asia | Other consumer services | September 2018 | Active |
| Iqlect | India | South Asia | Communications and IT Services | September 2018 | Active |
| MoEngage | India | South Asia | Communications and IT Services | October 2018 | Active |
|
Acko Technology & Services Pvt Ltd
Acko Technology & Services Private Limited is building a system for the insurance sector which will allow insurance companies to provide and manage the insurance coverage through an API, pricing and claims management engine. |
India | South Asia | Communications and IT Services | October 2019 | Active |
|
Infinite Uptime
Infinite Uptime provides diagnostics for machines used by companies in the manufacturing sector. It aims to increase the life of products. |
India | South Asia | Business services | December 2020 | Active |
