Caspian Impact Investments

“CII”, launched in 2013, is an Indian multi-sector social impact debt provider that invests in institutions across sectors including Microfinance, Small Business Financing, Food & Agriculture and Affordable Housing.


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India Financial Inclusion Fund

India Financial Inclusion Fund (IFIF) is a USD$90 million fund that was set up in August 2008 as an off-shore India-focused equity fund, investing in high-growth, small to medium MFIs and enablers.

IFIF's triple bottom line objectives are financial inclusion, capital appreciation, and social performance initiatives.
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Bellwether Microfinance Fund

Bellwether, launched in 2005, is an Indian on-shore equity and debt fund that invests in start-up and mid-sized Indian microfinance institutions.

Bellwether has established itself as a pioneering catalyst in the Indian microfinance space, through its work as the first on-shore microfinance fund in the private sector.
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Caspian Advisors is an investment advisory firm that invests capital in socially responsible, multiple bottom line businesses delivering financial and social value. We seek to utilize our understanding of the low income communities and their priorities and work towards bringing our expertise to improving their lives.

In the news

Caspian Launches Indian Debt Vehicle Focused on Impact Sectors
Hyderabad, Andhra Pradesh, India –14th April 2013: Caspian Advisors Private Limited announced the launch of Caspian Impact Investments (CII) with USD 10 million of committed investments from FMO, Triodos Doen and Hivos-Triodos Fund... read more

Equitas Holdings raises Rs 140 crore from IFC
Equitas Holdings Pvt Ltd, a leading, Chennai-based microfinance and micro-housing finance company, has equity capital of Rs 140 crore.IFC, Washington, the arm of the World Bank that gives equity and debt funds to private sector companies ... read more

Grassroots Capital and Caspian selected for the ImpactAssets 50 2012
For the second year in a row, Grassroots Capital Management (“Grassroots”) has been selected as a leading Impact Investment Manager for the ImpactAssets 50 2012 (“The IA 50 2012”) ... read more

Grassroots and Caspian recognized in the June 2012 report "Creating a Vibrant Entrepreneurial Ecosystem in India"
Grassroots and Caspian's funds are among the 17 global and local funds named in the report prepared for the Union Planning Commission ...read more

Ujjivan raises $8.7M led by IFC, sees churn among shareholders
In January, Ujjivan raised Rs 127.9 crore in its fifth round first tranche of equity funding. With this second tranche, the total equity investment of Rs 175.18 crore is one of the highest raised by any MFI in India this year... read more