ET BureauBy Taslima Khan
NEW DELHI: One of India's largest impact investment firm Aavishkaar announced inducting Arun Maira, former member, Planning Commission, and Kiran Karnik, former Nasscom president, to Aavishkaar-Intellecap's Group Advisory Council (GAC).
The entity, which is going aggressive with growth plans with investments across Asia, Africa and North America, will be inducting two more advisors, one each from the US and Europe by February 2017.
“We need to remain grounded as we reach a certain size. The new inductees with their experience and no real interest in the commercial success of our operations, will help keep our focus to the lower quartile of the population,“ said Vineet Rai, CEO at Aavishkaar. The entity which now comprises a team of 2,000 people is aiming to take the total assets under management to $3.5 billion dollars from the current corpus of $350 million over the next eight to ten years.
With a Rs 2,000-crore fund raising effort underway, Aavishkaar's total assets under management will stand at Rs 3,500 crore.
The new management structure at Aavishkaar-Intellecap group will see Manoj Nambiar, who led microfinance venture Arohan, to oversee all debt-related investments, while Vineet Rai and P Pradeep will jointly manage all equity related investments.
NEW DELHI: One of India's largest impact investment firm Aavishkaar announced inducting Arun Maira, former member, Planning Commission, and Kiran Karnik, former Nasscom president, to Aavishkaar-Intellecap's Group Advisory Council (GAC).
The entity, which is going aggressive with growth plans with investments across Asia, Africa and North America, will be inducting two more advisors, one each from the US and Europe by February 2017.
“We need to remain grounded as we reach a certain size. The new inductees with their experience and no real interest in the commercial success of our operations, will help keep our focus to the lower quartile of the population,“ said Vineet Rai, CEO at Aavishkaar. The entity which now comprises a team of 2,000 people is aiming to take the total assets under management to $3.5 billion dollars from the current corpus of $350 million over the next eight to ten years.
With a Rs 2,000-crore fund raising effort underway, Aavishkaar's total assets under management will stand at Rs 3,500 crore.
The new management structure at Aavishkaar-Intellecap group will see Manoj Nambiar, who led microfinance venture Arohan, to oversee all debt-related investments, while Vineet Rai and P Pradeep will jointly manage all equity related investments.
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