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April 16, 2013

Fund Alert: Soros Economic Development Fund backs Aspada Investment with $10-M

Aspada Investment Company has received a $10 million commitment from Soros Economic Development Fund (SEDF). Aspada, led by Kartik Srivatsa and Thomas Hyland, will make both equity and debt-like self-liquidating investments in high growth businesses. The fund seeks to commit $10 million to early stage businesses to make education, healthcare and financial services more accessible to low-income people in India. It will also invest in agricultural supply chain companies in an effort to support small holder farmers. 

Aspada represents SEDF’s second investment in India. In 2008, SEDF, Omidyar Network and Google, in partnership with the Indian School of Business, created the $17 million SONG Fund, which provides early and growth stage capital to SMEs in areas such as affordable healthcare, school education and agriculture supply chains. 

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