Market regulator SEBI has approved India’s first social venture fund, Incube Connect Fund, which seeks to collect Rs.200 crore for investment in four sectors impacting the life of people.
The Ahmedabad-based social venture fund has been sponsored by Incube Ventures Pvt Ltd, promoted by Mani Iyer, for primarily incubating, mentoring, providing seed capital and angel investments to nascent business ideas of social ventures, promoting differentiated high social impact technology among others.
Incube Connect, a nine-year, Rs.200-crore sector-agnostic fund will primarily be focused on four sectors: healthcare delivery-product and services, vocational education and skill enhancement, clean energy and eco business and sustainable rural business innovations.
Source: Business Line
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