Acumen Fund Invests $2 mn In Pushpagiri Health Care

Non-Profit VC firm - Acumen Fund has invested $2 mn in Andhra Pradesh based Pushpagiri Health Care Hospitals Pvt. Ltd. which runs an advanced eyecare centre Pushpagiri Vitreo Retina Institute (PVRI).

Pushpagiri will use the proceeds to to build two additional hospitals and expand its reach to approximately 50% of Andhra Pradesh, India’s fifth most populous state with 75 mn people.

Since its inception in 2007, PVRI has treated more than 25,000 patients, performed over thousands of surgeries and I.P. procedures, and conducted over 100 comprehensive eye care camps in the state of Andhra Pradesh.

Acumen Fund is a nonprofit venture fund that invests in market-oriented approaches to deliver critical, affordable goods and services to the world’s poor. Acumen Fund focuses on the convergence of philanthropic capital and business expertise to produce sustainable, scalable enterprises that reach underserved markets and increase access to the opportunities of the global economy.

Acumen Fund’s average investments range from $300,000 to $2 million in size. Acumen Fund has been investing in India and East Africa since 2001, focusing on a wide range of sustainable, scalable businesses that use market-based approaches to deliver products and services to millions of rural and urban poor.

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October 26, 2010 06:56 AM

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