With Govt in tow, India Inc gets social for impact play

BENGALURU: The Impact Investors Council (IIC) has tied up with the external affairs ministry to gauge the interest of global investors in social enterprise. The industry body is set to hold its first conclave, Prabhav, in Delhi from November 15-17 to showcase impact investment funds to about 150 social investors.

"There are different sets of limited partners (LP) who are interested in impact investment with a view at financial returns whereas the other set wants to invest in the sector for development," said IIC chairman Sandeep Farias.

"It will be a matchmaking event for Indian general partners of social funds and global and local LPs who want to be part of this sector," he said.

Elevar Equity, cofounded by Farias, has backed enterprises including Ujjivan Financial Services. The consortium currently has more than 20 members including individuals and funds.

Farias said the conclave will be attended by the representatives of Michael & Susan Dell Foundation, Germany headquartered social investment fund management firm Sonanz and Omidyar Network, among others.

"There is an active interest in healthcare, education and financial service providers for small and medium businesses from the impact investment community," Farias said.

The event includes an immersion tour in Bengaluru, Delhi and Mumbai for meetings with beneficiaries and entrepreneurs who have received social impact investments.

Impact investment in India is currently estimated to be a $7.5 billion opportunity, with a potential to grow up to $18 billion by 2020.