Aavishkaar Capital
"Investing at the intersection of financial returns and transformative social outcomes for India's underserved."
About Aavishkaar Capital
Aavishkaar Capital is India's oldest impact investment fund manager, founded in 2001 with a mission to channel institutional capital into enterprises serving the economically excluded. Over two decades, Aavishkaar has deployed capital across financial inclusion (microfinance, rural banking), agri-value chains, affordable healthcare, and clean energy — measuring both financial returns and social outcomes with equal rigour.
Fund VIII represents the firm's latest and largest vehicle, investing in Category I Social Venture AIF framework. The fund applies the IRIS+ impact measurement taxonomy and reports annually against the UN Sustainable Development Goals. Aavishkaar's investor base includes international development finance institutions (IFC, FMO, USAID), Indian family offices with social mandates, and SIDBI's impact fund-of-funds.
Key Attributes
- verified_userSEBI Registration IN/AIF1/13-14/0036
- location_cityHeadquarters 801, Hallmark Business Park, Sant Dnyaneshwar Marg, Bandra (East), Mumbai – 400051, Maharashtra
- groupsInvestment Team 68 Investment Professionals
- publicInvestor Base DFIs, Family Offices & Impact Investors
- gavelProducts AIF Category I – Social Venture Fund
- workspace_premiumMemberships GIIN & IVCA Member since 2007
Investment Approach
Impact-First, Returns-Accountable
Aavishkaar rejects the false dichotomy between impact and returns. The firm's thesis: enterprises serving underserved markets — rural financial inclusion, agri-logistics, affordable diagnostics — have large and underserved TAMs that generate both social value and superior risk-adjusted financial returns when managed well.
Double Bottom Line
Every investment evaluated on two scorecards: financial (IRR, MOIC, yield) and impact (beneficiaries reached, lives improved, SDGs advanced). Neither compromises the other.
IRIS+ Measurement
Standardised impact metrics using the Global Impact Investing Network's IRIS+ framework, with third-party impact audits published annually alongside financial accounts.
Blended Finance
Concessional first-loss capital from DFIs (typically 10–20% of fund size) reduces overall risk for commercial LPs, improving net returns while expanding the investment mandate.
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