[TC-I Call to Action]: Ennovent looking to fill Investment Manager position

Here is an opportunity for an experienced finance professional.

Job Profile

Title

Investment Manager

Job Objective

To develop and manage the investment portfolio of ennovent in India and Asia

Start Date

As soon as possible

Location

India – frequent travel in India and Asia

Reporting Relationship

Position reports to Managing Director

More information can be found here and general information on Ennovent can be found here.

Advertisements

[TC-I Call to Action]: New Ventures India Business Proposals

Anil G of  New Ventures India informs us that New Ventures is inviting clean tech companies to submit their business proposals for a chance to receive mentorship, assistance, and connections with capital and market opportunities to scale up.  Click here for further details about the call for proposals, including eligibility requirements and contact information.  Proposals are due by April 30, 2009.  This is a great opportunity for clean tech and clean energy SMEs in India.

About New Ventures India:

New Ventures India works for sustainable entrepreneurship and is specially designed to meet the needs of Indian entrepreneurs and help them overcome common business challenges to deliver environmental and social benefits in addition to economic development and growth opportunity.

India’s First Social Enterprise and Investment Forum: Sankalp 2009

Shital had written in last November about Sankalp 2009, a business plan competiton for Medium, Small and Micro Enterprises (MSMEs) organized by India Development Gateway, in partnership with Rural Innovations Network (RIN) and National Bank of Agriculture and Rural Development (NABARD).

Turns out the business plan competition has now developed into India’s first ever Social Enterprise and Investment Forum, with additional support from the Rockefeller Foundation. Continue reading

(IFMR) Trust Me

Editor’s note: In addition to being informative, this post also outlines what IFMR Trust is looking for in potential hires. If you would like to see that immediately, go after the jump.

Before Thanksgiving break I had the pleasure of sitting down at an informal roundtable with Dave Wallack, Senior Vice President of People to learn more about IFMR Trust‘s ambitious plans to provide financial inclusion to every person in India. Chaired by Dr Nachiket Mor, who is also the President of the ICICI Foundation for Inclusive Growth, the Trust’s mission is to “ensure that every individual and every enterprise has complete access to financial services.” In order to accomplish this goal, the Trust is looking at a rather unconventional business model that where the non-profit parent oversees multiple self-sufficient for-profit silos in various financial sectors.

The three ventures that the Trust has currently launched are the IFMR Trust Holding Company (ITHC), the IFMR Trust Advisory Services (ITAS) and the IFMR Trust Guarantee Company (ITGC). Each venture has a specific and distinct goal. The ITHC aims to build a network of Kshetriya Gramin Financial Services (KGFS) that will serve as low-cost, paperless branches providing access to financial products. According to Wallack, the goal is to have one of these branches for every 10,000 people or 2,000 households. Wallack emphasized the feasibility of such scale is due to the incredibly low-cost structure of each branch. By being completely paperless, transaction costs is on the scale of 20-30 rupees as opposed to $20 dollars. Wallack self-titled the initiative as the Starbucks of microfinance, as they are able to provide loans at only 11.5%, far less than the typical 20-30% charged by traditional MFIs.

The ITAS’ charge recognizes that microfinance is merely a stopgap or defensive measure and that more aggressive financial services will be needed to enable true inclusion. In order to do this, the ITAS has structured as essential a private equity firm and with the aim of raising $150 US. Utilizing this capital, ITAS will look at 14 different supply chains that reach the rural population and figure out ways of improving and fixing them through investments in operating companies along the product cycle. These investment strategies, organized as Network Enterprises, will operate in a for-profit fashion with the belief that the quest for profits will seek out the most efficient and effective ways to address the supply chain breakdowns.

One example is the current gap that exists between urban labor demand and rural supply. After some preliminary research, ITAS discovered that the major hurdle was that rurual workers could not afford to live anywhere in the city for their first 2 weeks, because they had yet to been paid. In order to resolve this ITAS partnered with a local temporary housing and staffing company in order to provide that stopgap housing for these workers.

Finally, the ITGC will focus on providing much needed debt capital to small and medium size enterprises throughout India to truly enable them to grow. Here, the organization is partnering with many existing financial providers to roll out their offerings more aggressively.

Continue reading

Kubera-Edelweiss Social Innovation Honours

We all know the power of prizes to motivate innovation and so this new award will hopefully do just that:

The financial services firm, Edelweiss Capital Ltd is partnering Kubera Partners, a private equity firm based in USA to launch the Kubera-Edelweiss Social Innovation Honoursthree awards totaling US$ 60,000 to felicitate outstanding innovations that positively impact the status of the girl child, through the delivery of services in three areas: education, health and nutrition, and future employability of the girl child. EdelGive Foundation, the not for profit subsidiary of Edelweiss Capital is managing the entire process of these awards.

Deadline for applications is December 1st of this year, so please prepare your applications ASAP.

For further information on the award categories, the broad selection criteria, rules and regulations and the application form, please visit – Kubera-Edelweiss Social Innovation Honours  or contact us at +91 22 23675623/4 and edelgive@edelcap.com

A dash of (A)cumen: The recipe behind Acumen Fund’s investment strategy

Yesterday, Acumen Fund‘s Chief Investment Officer Brian Trelstad came to NYU to conduct a live case study on a real company that Acumen Fund invested in, in an effort to educate MBA and other students on the investing strategy and process of this innovative social venture fund. I actually wrote about Acumen’s approach sometime back.

The company under scope was Ziqitza Healthcare Limited (better known at Dial 1298), a for-profit ambulance service located currently in Mumbai aiming to provide ambulance assistance for all in 15 minutes. Using a willingness to pay revenue model, the company subsidies services for the poorest through fees generated from providing care to those that can afford to pay.

Before I jump into the heart of the case study, here is a video that we were shown at the outset of the lunch. In addition to providing ambulance services, the company is now also figuring out innovative ways to power their vehicles with renewables. You can read the rest of the review after the jump.

Continue reading

TC-I Fundwatch: Madura Micro Finance to get $4.52 million from Unitus

Madura Micro Finance has received an investment by Unitus Equity Fund to ramp up their offerings to women self help groups (SHGs) in rural India.

Madura Micro Finance will use UEF’s funding to increase its management bandwidth and institutional capacity as well as continue to expand its customer base, which is comprised primarily of women.  The firm’s central financing product is a group loan to self help groups (SHGs) which are formed and trained through its partner organization, Microcredit Foundation of India. These SHGs undergo training in good financial practice and business skills before being considered eligible for MMFLs loans. Madura does not post to the MIX database. It reported USD 35 million in disbursements in 2007, and an SHG member base of 500,000.

[Source: Microcapital.org]