Search
+

    Lok Capital to raise $100 million; to invest in health, agriculture companies

    Synopsis

    The fund will be deployed in the next five years and will focus on growth stage investments in financial services, healthcare, agriculture and livelihood.

    The fund will be deployed in the next five years and will focus on growth stage investments in financial services, healthcare, agriculture and livelihood.
    NEW DELHI: Investment fund Lok Capital today said it aims to raise a corpus of about $ 100 million (about Rs 673.4 crore) to invest in growth-stage companies in India across sectors like financial inclusion, healthcare and agriculture.

    The fund also announced the first close of its Lok Fund III at $ 40.5 million.

    So far, the entity's total capital under management (including Fund I and Fund II) stands at over $ 125 million.

    "Existing LPs - CDC Group Plc (the Development Finance Institution of the UK), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV's and Societe de Promotion et de Participation pour la Coopération Economique have participated in this funding round," it said in a statement.

    TIAA Global Asset Management has also come on board, providing a new source of capital for Fund III, it added.

    "Fund III has a total target corpus of around $ 100 million and is expected to close in the next 12-18 months," it added.

    The fund will be deployed in the next five years and will focus on growth stage investments in financial services, healthcare, agriculture and livelihood, it added.

    The average tranche per investment will range between $ 2-10 million and Lok Capital will collaborate with limited partners (LPs) for joint investment in larger deals.

    Lok's portfolio companies include Equitas Holdings, Suryoday Microfinance, Ujjivan Financial Services and Utkarsh Micro Finance.

    "Fund III will also focus on other emerging models in financial services such as SME finance, affordable housing finance and digital/tech-enabled financing," it said.

    In healthcare, the areas of interest include delivery of affordable healthcare, devices and diagnostics, while that in agriculture sector includes dairy, supply chain management and integrated farm-to-fork models.

    In January 2016, Lok invested in Pune-based Siddhivinayak (SV) Agri Processing.

    "Aided with the government initiatives from the last few years along with very progressive regulatory environment, the climate is ripe in India for deepening financial inclusion through both traditional business models as well as through fin-tech models," Lok Capital Managing Partner Venky Natarajan said.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

    Also Read

    3 Comments on this Story

    Ravi rabari1297 days ago
    Agar company help Kare to me bich resort banana chahata hu Dwarka me mere pas 10 akar jamin he Samudra. K. Pas 10 karod investment hoga Resot banane me har sal 80 lakh tak incam Ho sakati he kharch bad karne K bad
    mohammad sadique1298 days ago
    MD Sadique (jharkhand)chakradharpur
    Mera sahar me be roz gate bahut h koi company khul jata to yaha baat bat PE danga NH hoga our sab ko job be mile GA our company ko profit be hoga plzzzz
    mohan lal1298 days ago
    अगर कंपनी फाइनेंस स्पोर्ट करे तो मैं सौर ऊर्जा का प्लांट लगाना चाहता हूं जिसके लिए जमीन भी मेरे पास है। मेरी जमीन से केवल डेढ़ किलोमीटर की दूरी पर विद्युत निगम का जीएसएस बना हुआ है जिससे सौर ऊर्जा से बनने वाली बिजली को हम राज्य सरकार को बेच सकते है। इससे अच्छी इनकम होगी।
    The Economic Times