We are delighted to share with you that Caspian's India Financial Inclusion Fund (IFIF), has been recognized as one of 50 Best for the World Funds by B Lab which recognizes the impact of 50 GIIRS Rated funds in 2016. IFIF was established by Caspian in 2008 and focuses on financial inclusion investments in India including Microfinance, Affordable Housing and Financial Inclusion Enablers.
IFIF has received a Platinum Rating on the Impact Business Model and a "5 Star" Rating on Operations (ESG). IFIF is the highest rated fund on Operations among Emerging Markets funds. Caspian is the only India-based and India-focused fund manager to have been included in the Top 50 list.
Top 5 Emerging Market Funds Based on Their Operations Rating:
Mona Kachhwaha, Fund Manager of IFIF commented on the recognition, “It is an honour to be recognized as a Best for the World Fund by B the Change Media. Caspian has been a pioneer in impact investing in India and through our 10-year history we’ve been very focused on finding ways to credibly assess the social and environmental impact of what we do. We adopted GIIRS as a ‘Pioneer Fund’ in 2010. Our engagement with GIIRS over the last 6 years has been enriching; we believe our funds and portfolio companies have benefited a great deal from their rigorous and independent evaluation. As we diversify from financial services in to other impact sectors, Caspian will be able to further harness the sector-agnostic quality of the GIIRS rating system."
The 50 funds from around the world recognized as BftW2016 have, by being #GIIRSRated, submitted their portfolios to a high level of rigor, transparency and verification by an independent agency. Along with our partner Grassroots, Caspian has been among the 15 Pioneer Funds that participated in the beta test of GIIRS starting in 2010. Since then, GIIRS has rated over 90 investment funds and 2,000 companies.
We are proud of this achievement, and of the dedication and impact focus of our portfolio companies that got us here!
Click here for the full list of honorees, here for the Best for the World criteria, and here for more information on B Corp and GIIRS.
Congratulations to all the other funds on the list! It takes serious commitment to #measurewhatmatters.