Samridhi Fund, created by Department for International Development (DFID) in partnership with SIDBI has invested R1.9 Cr in Shikhar Dairy, BS states.
Shikhar Dairy plans to use the proceeds to set up a professionally managed dairy that will allow 300 landless rural poor to own cows and a dairy in the Jhansi district of UP.
This September, Samridhi Fund invested in Glocal Healthcare, while in August, Samridhi Fund invested R14.7 Cr in Gramco Infratech, which plans to use the proceeds to build agricultural warehouses to provide storage and value added services to more than 3,000 farmers every season in MP.
Shikhar is a microfinance institution based in Delhi, it assists communities so that they can become resilient against potential financial and social risks. Shikhar offers community- focused products to the ultra poor and currently serves over 15,000 clients.
Through the R400 Cr Samridhi Fund, DFID will extend support to the businesses which directly affect the poor as producers, consumers or workers, over seven years, across eight low-income Indian states. The primary focus of the fund is to invest in the MSME sector and provide financial assistance to companies that have projects with a developmental impact.
Recently, Ahemdabad-based institutional lender to MFI, Ananya Finance for Inclusive Growth Private Limited raised Series A funding from WWB ISIS Fund. Arohan Financial Services raised R22 Cr from Aavishkaar Goodwell II, Michael & Susan Dell Foundation and a new investor Swaminathan Ankleshwaria Aiyar.
Ahemdabad-based institutional lender to MFI, Ananya Finance for Inclusive Growth Private Limited has raised Series A funding from WWB ISIS Fund, NextBigWhat states. In June, the microfinance institution had raised capital from IDBI Bank.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.