Indian Institute of Management Udaipur launched a student-managed Impact Investment Fund (IIF) focusing on investing in early-stage projects or start-ups that create a create a social and environmental impact on society. The Impact Investment Fund (IIF) initiative aims to support entrepreneurs who have the potential to leverage their expertise and skills to create an impact for the society and environment in a sustainable manner. Ventures will be supported in 5 Goals from the United Nations Sustainable viz, Zero Hunger, Good Health & Well Being, Quality Education, Clean Water & Sanitation and Affordable & Clean Energy
The Fund will be an ‘Evergreen Fund’, operating financially within IIMU IC as a Section 8 Company, with provision for co-investing. Fund size is estimated to be 7 Crores in 5 years. Approximately 12-17 companies will be invested in at any point of time. Individual Investments are capped at 15% of fund size or Rs.40 lakhs.
The launch was announced through a webinar in which Nakul Zaveri, Managing Partner, Relativity Investment Management, Navneet Garg, CEO and Co-Founder Caya Constructs, and Ramesh S. Ramakrishnan, Chairman, Transworld Group of Companies, spoke.
