Shell Foundation, the non-profit organisation formed by oil and gas company Shell, and financial services firm Triodos Bank have provided $25m of equity financing for India-based impact investor Aavishkaar-Intellecap Group.
The group is made up of Intellecap, which provide investment banking, consulting and research services with a view to making impact investments in developing markets, and Aavishkaar, which supplies risk funding to companies in the developing world.
Shell Foundation was founded with $250m from its parent company, from which it acts independently, to apply business thinking to social and environmental issues connected to the energy industry. It supplied $10m for Aavishkaar-Intellecap.
Triodos invested $15m through its Triodos Investment Management unit. The capital will help Aavishkaar-Intellecap increase its international activities.
The deal was struck as Aavishkaar-Intellecap formally restructured its operations. The group will make equity investments through Aavishkaar, provide advisory services through Intellecap and debt through its Arohan, IntelleGrow and IntelleCash subsidiaries.