Image Credits : Sresta_Caspian

IMPACTSPACE

Designed by Sugandhi LuthraContent by Neha BhatnagarSupervised by Ranjna Khanna

ITS THE YEAR OF PRABHAV 2018MAY 2018

Thank you Kartik/Asha Impact

Thank you Namitha/Northern Arc

MOVING TOWARDS PROSPERITY: A FUND FOR WOMEN MICRO ENTREPRENEURS IN INDIA

Validating the potential of impact investing to deliver high commercial and social returns“ASHA IMPACT EXITS VARTHANA GENERATING HIGH FINANCIAL & SOCIAL RETURNS"

Mann Deshi, in partnership with Northern Arc Investments (formerly IFMR Investments), acting as the fund manager, proposes to set up a dedicated India-focused Women Micro Entrepreneurship Fund (“Fund”). The Fund will invest in a diversified pool of underlying loans which have a direct or indirect impact in promoting micro entrepreneurship among women.Today, while Microfinance Institutions have provided the initial capital required to set up businesses, micro women entrepreneurs across the country con-tinue to face financial hindrances while growing their businesses and seeking larger loans.The INR 100 crore fund will seek to bridge the gap in funding available through a mix of investments in debt securities and grants in institutions that provide finance to micro entrepreneurs.

Asha Impact, an impact investment and policy advo-cacy platform co-founded by Vikram Gandhi and Pramod Bhasin, has successfully completed its exit from Varthana, a Bengaluru based NBFC providing loans to affordable private schools, generating above market financial returns and enabling signifi-cant social impact in the educationsector. In a short span of 5 years, the company has built a loan book of over Rs. 700 Crore lending to more than 3,500 schools impacting over 2 million children. The secondary sale was a part of the Rs. 355 Crore Series-C round led by ChrysCapital in April 2018. Asha Impact had invested in Varthana’s Series around in June 2015 providing the company with much needed domestic capital. Asha Impact has generated a 6x return on investment in less than three years, making this one of the most successful exits to date in the Indian impact investing sector.

Check out full story at : https://tech.economic-times.indiatimes.com/news/startups/im-pact-investment-firm-asha-impact-exits-varthana-with-5x-returns-in-3-yrs/64162116

https://www.vccircle.com/how-pramod-bha-sin-and-vikram-gan-dhi-minted-money-in-asha-impacts-varthana-exit/

CASPIAN IMPACT INVESTMENT

A marquee board and advisory council to oversee creation and launch of twin $1bn Funds

New Delhi, India, May 14, 2018 (GLOBE NEWS-WIRE) — Social Finance Global Network (SFGN) and The Global Steering Group for Impact Invest-ment (GSG) today announced the launch of Social Finance India (SF-IND) and first three of its Direc-tors- Rajiv Lall, Ashish Dhawan, and Vikram Gandhi. Rajiv Lall will Chair the initiative. SF- IND will be a new Section 8 non-profit intermediary which will galvanize the Indian impact investment space. Social Finance India’s first two products- India Impact Fund of Funds (IIFF) and India Education Outcomes Fund (IEOF) will launch in 2018. SF-IND also launched its website, www.socialfinance.org.in

Check out full article at: https://stockguru.com/2018/05/14/indias-impact-invest-ment-leaders-launch-social-finance-india-in-new-delhi/

Omidyar’s investee Transerve Tech provides a cloud-based software that maps geographical areas in cities and maintains its database. This helps munici-pal authorities accurately track the revenue and tax collection process in their jurisdiction and provide citizens with transparency. Omidyar joins Village Cap-ital to support similar emerging civic tech ventures that connect the Indian Government to its citizens through the #CivicTechIndia 2018 Accelerator.

Check out full article at:https://vilcap.com/program/civictech-india-2018/

INDIA’S IMPACT INVESTMENT LEADERS LAUNCH SOCIAL FINANCE INDIA IN NEW DELHI

NORTHERN ARC INVESTMENTS

OMIDYAR NETWORK JOIN HANDS WITH VILLAGE CAPITAL TO SUPPORT EMERGING CIVIC TECH VENTURES

The early stage startups in newer sectors require a lot of debt with ability to generate cash within a few years but hesitate to dilute stakes at that juncture. Of around Rs 1,500 crore that we raised so far, nearly Rs 1,000 crore went into equity investments. Caspian was in collaboration with Gray Ghost Ven-tures, FMO Investment Management, SIDBI(Small Industries Development Bank of India), Overseas Private Investment Corporation , USAID Develop-ment Credit Authority, Rabobank Foundation- Rabobank Showcase Page, to name a few. We hope to support many more such professionally managed companies, which have a direct positive impact on society and the environment.

Check out full article at https://lnkd.in/frsYgnC

Northern Arc Investments' sixth fund of Rs 150 crore takes off in style. The fund has in a short three-month time held a first close and deployed 65% of its target INR 150 crores. The article talks in detail about the fund, deployment done so far and future investment plans. Northern Arc Investments counts several high-networth individuals, family offices and corporates as investors in this sixth fund.

Please find below the link of the coverage: https://economictimes.indiatimes.com/small-biz/start-ups/news-buzz/northern-arc-investments-sixth-fund-of-rs-150-crore-takes-off-in-style/articleshow/64169697.cms

IIC CITY WISE MEMBER MEETS- APRIL'18

UPDATES FROM IIC

At the outset, IIC expresses its sincere gratitude to its members and guests who so kindly participated in our recent City Meets.The IIC team takes immense pleasure in announc-ing the completion of a successful round of first ever City-wise Member meets conducted in April, 2018. The team traveled to the four major metro-politan cities, meeting our members in their home towns. The meets were as follows :

• 16th April- Trident, Mumbai • 23rd April- J W Marriot, New Delhi • 26th April- Unitus Seed Fund Office, Bangalore (Thank You USF team)• 27th April- Northern Arc/IFMR Office, Chennai (Thank You IFMR Team) The purpose of these meets was to catch up with members either one-on-one or in groups and hear their feedback on IIC's progress in general, their detailed take on different verticals at IIC - Advoca-cy, Research and Membership- and seek help and recommendations on Prabhav 2018- IIC's upcoming flagship conference scheduled for 7th October, 2018 in New Delhi.

A brief topic-wise synopsis of our 4 city meets can be found on: "http://iiic.in/city-wise-member-meets/"

1. Ranjna Khanna- Director, IIC met with the Hon’able Consul General Sir Guido Tielman of the Netherlands embassy to invite & collaborate with Dutch Embassy for Prabhav'18.

2. Duke Research Project: IIC is proud to announce the successful completion of the Duke University research project on Impact Measure-ment. Although IIC would like to run another round of interviews with the members for an unabridged version of the study as considerable data is absent which has impacted the results of the study. IIC intends to release this study at Prabhav'18.

3. Advocacy Survey- Some of you have already responded on our Survey on 'Regulatory hurdles in

Indian Impact Investing'. Request the others to please complete the Survey as soon as possible.

4. Brookings Research: IIC is in the process of signing an MoU with Brookings for a sector (s) specific study on Indian Impact Investing. We strongly request the members to please partici-pate in this study and as always make this a success! We intend to also release the Brookings report at Prabhav'18.

Delhi

MumbaiBangalore

Chennai

Thank you Neha/IIC

Thank you Neha/IIC

LATEST FROM PRABHAV'18:

- We are happy to share that IIC team, in full swing, has started to invite Key note speakers and Limited Partners (LPs) for Prabhav'18.- We are in the process of meeting embassies - US, UK, Netherlands, Sweden, Canada and few more in order to reach out to Global Investors interested in knowing Impact Investing in India.

Requests for Prabhav'18

1. Dear IIC Members, for Prabhav'18 to be a success, we need the LP/GP meetings to be a premier achievement. We need your help. We will be approaching all our members requesting to introduce us to two LPs each. We look forward to your support on this front. Thank you.

2. As you know, Prabhav'18 will feature city tours to social enterprises on 10th Oct, similar to what we witnessed at Prabhav'16. We request our members

to please nominate the social enterprises you would like to be showcased. Please note the final list of the social enterprises will be the decision of IIC Board & Secretariat.

3. Another important attraction at Prabhav'18 are the 5-6 parallel sector tracks: Affordable Health, Affordable Education, Financial Inclusion, Agricul-ture, Energy and Affordable Housing, which will be discussed to monitor challenges and highlights of each sector corresponding to their respective SDGs.

IIC intends to release one sector specific study at each sector track. For this we will be shortly send-ing a detailed mailer requesting members to help us write these short sector reports to be released at Prabhav'18. Requesting your support as always.

- Here are few latest updated collaterals for Prabhav'18 designed, Sugandhi Luthra, IIC

About IIC: The Convenor of Prabhav 2018The Impact Investors Council (IIC) is the association of

international and Indian Impact Investors in India. Impact

Investors are financial investors who invest in social

enterprises to deliver social (and environmental) impact

to the poor in sectors such as Agriculture, Financial Inclu-

sion, Affordable Education & Healthcare, Water & Sani-

tation, Clean Energy, Livelihoods, etc. Impact Investors

use the power of both financial markets and social entre-

preneurship to deliver such impact. Impact investing

shows us that it’s possible to build companies that

provide both social and financial returns. Rationale of Prabhav 2018: The Twin Challeng-

es

The rationale for the event is underpinned by the unmet

basic needs of India's 600 million underprivileged

citizens-the largest such group in the world. The Govern-

ment of India, social entrepreneurs, impact funds, impact

Limited Partners, the United Nations, through its Sustain-

able Development Goals(SDGs), and other players in the

eco-system are all helping address these needs in the

most feasible manner. In the words of Mahatma Gandhi,

none of us will rest until the last tear is wiped out from

the eyes of the underprivileged.About Prabhav 2018IIC is pleased to announce its flagship program, India

Impact Investment Conclave called Prabhav 2018, on 7th

October, 2018 in New Delhi. Prabhav 2018 is a unique

event which addresses the twin challenges of:

a) SDG Sector Themes: Feasible and scalable invest-

ment opportunities in specific sectors of interest to

impact investors including policy hurdles and success

stories; and b) Flow of Impact Capital: Laying the foundation for the

flow of significant long-term value-added impact capital

by conducting India's first major LP-GP meeting focused

entirely on impact investing. The event aims to forge a stronger professionals rela-

tionships between limited partners and general part-

ners, bring a greater, shared understanding of risk-return

tradeoffs, fund performance expectations, social impact

measurement, and other relevant best practices.

We will also be organizing immersion tours to selected

Social Enterprises for global Limited Partners. The

convention will seek to identify and find solutions on

issues that concern social enterprises. Participation of Marquee Names in the Impact

WorldPrabhav 2018 is the largest impact investing event in

India and will include the participation of marquee inves-

tors such as the Michael & Susan Dell Foundation, the

Pierre Omidyar Network, Wolfensohn, Aavishkar, Unitus,

Patamar Capital, Grameen Foundation and several other

renowned and leading personalities and institutions

engaged in the Indian and global impact sector.

7th October 2018

8FORGING STRONGER

LP-GPRELATIONSHIPS FOR ACHIEVING SOCIALDEVELOPMENT GOALS

After the success of Prabhav 2016, Impact Investors Council (IIC) announces the next edition of its

biennial Conference Prabhav'2018, envisaged as an LP-GP (Limited Partner-General Partner)

forum. This year Prabhav will be hosted on the 7th October'18 in New Delhi. It will precede the

GSG 2018 Summit, which will be held on 8th and 9th October in New Delhi.

SAVETHE

DATE

7th October 2018New Delhi

8

Highlights of Prabhav 2018 :

• Limited Partners & General Partners (LP/GP)

Meetings: IIC would like to formalise the very

rationale of networking by enabling a structured

platform between LPs & GPs. The objective is to

help forge stronger working relationships and

bring a greater shared understanding of risk

return trade-offs, performance metrics of various

funds, social impact measurement and other

relevant issues.

• Immersive Grassroots Tours: The option to

pick a tour to Indian Social Enterprises across

3-4 Cities where Impact Investing has helped

improve the lives of underserved-beneficiaries

(details to follow soon).

• A Deep dive into Six Focused impact sectors:

Six parallel tracks representing 6different impact

investing sectors- Affordable Health, Financial

Inclusion, Affordable Education, Affordable

Housing, Agriculture and Energy in India. Each

track will showcase the highlights of each sector.

Prabhav'18 has limited seats and is strictly by Invite. Please contact sugandhi.luthra@iiic.in to receive invites

and know more about the conclave. To Sponsor, please contact neha.bhatnagar@iiic.in

12:30 PM - 6:00 PM

Prabhav is a Sanskrit word which means Impact

AFTERWORD

IIC has emerged as a credible network organisation of Impact Investors offering common convening plat-forms. IIC’s inclusiveness gets participation from various forms of Capital providers for Social Enter-prises - including Intellectual Capital besides Equity Capital and structured Debt – each playing their cata-lytic role. Based on my engagements at IIC Executive Council, I am confident that we can build IIC into a competent industry body in line with MFIN, COAI and NASSCOM.IIC members are committed to foster Environmental, Social and Governance Impact while maintaining tab

at commercial viability and scalability. Besides attract-ing more Impact Capital to India, IIC can clearly emerge as a thought leader and also help the larger stakeholders like govt agencies and regulators in their pursuit of promoting social good.

India is a brilliant opportunity for Impact Investors for seeding, supporting and scaling up Social Enterprises. Let us celebrate this opportunity with IIC at Prab-hav-2018. Looking forward to meet you all on 7-Oct @ Delhi.

Few words from Nitin Agrawal

Nitin Agrawal, Deputy CEO, Intellegrow

Vidhee Garg, Principal, Aarohi Fund, Affordable Housing Institute

Arvind Mathur, Non Executive Director, IIC

The foremost word that comes to mind when I think of the IIC team is “enthusiasm” – and oodles of it! Through all of my interactions with Neha, Ranjna, and Sugandhi over the past 2 ½ years, I am struck by the team’s spirited and structured approach to building IIC and the impact investing industry in India.In a world where the very fundamentals of how we solve social ills are changing – from business models to delivery channels to capital structures – IIC plays an important role in bringing stakeholders together on a global stage. The depth and breadth of IIC’s

work – including advocacy, research, and events – is not only timely, but is also seminal in forging new partnerships among investors, entrepreneurs, and policy-makers alike. The GSG Impact Summit 2018 will be essential to cementing IIC and India’s position in the global impact investing industry, as well as demonstrating past successes and future endeavors. Here’s wishing the IIC family all the very best in its efforts to take the impact investing sector to even greater heights!

Mr Mathur attended three impact investing panel discussions this month in the US. There was signifi-cant interest in impact investing at the Global meets. Here are some insights into his discussions with the Global Impact Investing leaders:

1. The World Bank President, Jim Yong Kim, stated that a mid-teens return should be targeted by impact investors in order to ensure sustainability of a social enterprise.

2. Stephen Lee, Principal, Impact Investing of Nuveen TIAA said that they employ two screens to make an impact investment. The first is the case for impact and the second is the business case. Nuveen targets commercial returns from its impact investing portfo-lio.

3. SEAF CEO Bert van der Vaart said they expect one of their agriculture portfolio companies to list on the stock exchange in India.

Few words from Vidhee Garg

From the desk of Arvind Mathur

IIC Team promises to continue and build a stronger impact investing ecosystem. We once again thank all our members for their endless support and encouragement.