Largest Indian Venture Debt firm announces Series-C raise

IntelleGrow announces capital raise

of INR 134 Crore (US $ 20mn)
HYDERABAD, June 14, 2016: Mumbai based IntelleGrow announced fund raise of
Rs.134 crore in Equity and long term debt from Triodos, Developing World Markets
(DWM), Omidyar Network (ON), Calvert Foundation and Overseas Private
Investment Corporation (OPIC). IntelleGrow is Indias largest venture debt firm.
IntelleGrow, promoted by Intellecap group, is a lending platform providing cash flow
based debt product to early stage, high risk, high growth underbanked companies in
India. Conceptualized by Intellecap as a pioneering initiative in the Impact Venture
Debt stage for Micro, Small and Medium enterprises, Intellegrow has received
support from the Shell Foundation both financially and
strategically during its early years. Omidyar Network
Venture Debt refers to
(ON) and Michael and Susan Dell Foundation (MSDF)
lending to startups, early
participated in earlier capital raise for IntelleGrows.
stage, emerging and growth
enterprises. This requires
Vineet Rai, Chairman of IntelleGrow said Indian
deeper credit assessment than
early stage ecosystem has been starved of quality debt
traditional lending to SMEs.
providers who could offer cash flow based lending.
IntelleGrow pioneered this concept with an impact
A more
rigorous
due
thesis and the current fund raise would allow us to
diligence helps to get an
provide substantial funds to start up ecosystem in
understanding of business
India.
models, value chains, growth
challenges
and
the
IntelleGrow has so far funded 100 enterprises across
entrepreneurs
ability
to
various emerging themes and its portfolio include
charter the business through
cutting edge technology startup such as SEDEMAC, ATM
these uncertainties.
management company Electronic Payment System, and
ophthalmologic companies such as EYE-Q. The unique
model of IntelleGrow encompasses funding to the
enterprises at all stages of Growth, both directly and indirectly.
IntelleGrow is one of the few Venture Debt firms across the world that has leveraged
their balance sheet at their nascent stage. It has borrowings from 11 lenders
including two Foreign Portfolio Investors (FPIs).
Nitin Agarwal, Deputy Chief Executive Officer of IntelleGrow said We are
delighted to have reputed global investors such as Triodos and DWM join us to
support our mission. We believe our emerging partnership with OPIC and Calvert
Foundation will strengthen our ability to support more enterprises in India.
This fund raising comes in the backdrop of thrust on Make in India campaign
besides the Start-up India and Stand-up India also creating an ecosystem projected
to further improve the GDP contribution and employment generation by early-stage
enterprises in India.

-xAbout IntelleGrow
IntelleGrow was serves the missing middle enterprises working in sectors which make a
positive Environmental, Social and Governance Impact. Unlike traditional collateral-based
lenders, IntelleGrow uses a venture debt approach, lending primarily on the basis of
business viability and cash flows. Since it started operations in 2012, IntelleGrow has
disbursed Rs.350crore to about 100 enterprises which lack sufficient track record and
collateral to secure sufficient debt from conventional formal sector lenders.
About Intellecap
Intellecap is a pioneer in providing innovative business solutions that help build and scale
profitable and sustainable enterprises dedicated to social and environmental change.
Founded in 2002, the Aavishkaar and Intellecap Group have directed US $ 600 Million of
capital to entrepreneurs working on such challenging problems sustainably through equity
funds, venture debt vehicle, microfinance lending or investment banking intermediation.
Intellecap provides a broad range of Consulting, Research and Investment Banking Services.
About Developing World Markets
Developing World Markets (DWM) is an asset manager and investment bank dedicated to
making socially positive investments in order to promote sustainable economic and social
development on a global scale. DWM primarily invests in inclusive financial institutions
(IFINs), including microfinance institutions (MFIs), small and medium enterprise (SME)
lenders, affordable housing and education lenders, and mobile banking service providers.
DWM has made investments and underwritten transactions in more than 40 countries across
four continents.
About Tridos
Triodos Investment Management BV, a wholly owned subsidiary of Triodos Bank, manages 18
sustainable investment funds which includes both Tridos Fair Share Fund & Tridos
Microfinance Fund, with a total value of $3.9 billion dollar. Triodos Investment Management is
a global leader in impact investment, and a founding member of the Global Impact Investing
Network. The funds span a broad range of sectors including Energy and Climate, Arts and
Culture, Sustainable Food and Agriculture, Emerging Markets and Sustainable Real Estate.
About Omidyar Network
Omidyar Network (ON) is a philanthropic investment firm dedicated to harnessing the power
of markets to create opportunity for people to improve their lives. Established by eBay
founder Pierre Omidyar and his wife Pam, ON invests in and helps scale innovative
organizations to catalyze economic and social change. ON has committed more than $954
million to organizations that foster economic advancement and encourage individual
participation across multiple initiatives, including entrepreneurship, financial inclusion,
property rights, government transparency, consumer Internet and mobile.
About Overseas Private Investment Corporation (OPIC)
Overseas Private Investment Corporation (OPIC), is an U.S. Governments development
finance institution. OPIC mobilizes private capital to help address critical development
challenges in order to raise the industry and regional standards in more than 160 countries
worldwide. OPIC provides investors with financing, political risk insurance, and support for
private equity investment funds, when commercial funding cannot be obtained elsewhere.
About Calvert Social Investment Foundation
Calvert Social Investment Foundation, Inc.'s (Calvert Foundation) is community development
financial institution (CDFI) that was incorporated with a mission to maximize the flow of

capital to disadvantaged communities in order to create a more equitable and sustainable

society. By creating innovative financial products and services, Calvert Foundation makes it
possible for anyone, not just institutions, to invest in financial instruments that directly serve
communities.
For further details, please contact:
The PRactice
Farooque Shaikh 9594777764, farooque@the-practice.net
Sukhmani Bikram 9871012654, sukhmani@the-practice.net