About the organisation
The Aavishkaar India Micro Venture Capital Fund ("Aavishkaar")
is a venture fund founded to promote development in rural and semi-urban India.
Aavishkaar believes entrepreneurs can be a powerful force for development. To
this end, the firm provides micro-equity funding (Rs. 10 lakh to Rs. 50 lakh,
approximately USD $20 thousand to USD $100 thousand) and operational and
strategic support to commercially viable companies increasing income in or
providing goods and services to rural or semi-urban India.
Rural and semi-urban India – consisting of over 800 million
people – still experiences a low standard of life, despite a decade of strong
national growth. Small to medium sized private enterprise can drive development
in these underserved regions. Historically, this enterprise has been thwarted by
misguided economic policies, infrastructure challenges, and limited access to
capital. Recently, improved economic policies and infrastructure investment have
removed many obstacles. A lack of access to capital, however, continues to
inhibit widespread growth. Micro-credit is too small and too restrictive to be
used for true business creation. Conventional venture capital focuses on
businesses requiring USD $1 million+ that target urban regions or service
export. Businesses smaller in scale addressing rural and semi-urban India cannot
find the risk capital they need. Aavishkaar strives to fill this gap.
The Aavishkaar Board
The Board was initially formed by the coming together of a group of like
minded people who had a common idea, a common vision.
- A spin
off from Aavishkaar International, the primary objective was to set up an Indian
entity and the primary role of the CEO was to set up the organisation and
establish its presence in India with the support of the Board.
- Individual members took on different roles giving impetus to the growth of
- One of the fundamental criteria for the Board was that individual members
felt comfortable in their role and what was expected out of each of them.
Expectations change and are discussed regularly and there is articulation of
- The governing mechanism operates at 2 levels- the India management which is
accountable to the Aavishkaar Trust and through the Investment Board which
makes primary decisions on investment related issues and works like a sub
committee of the governing Board.
- The Board is also supported with external Advisors.
- Decisions made in the Investment Board have to be ratified by the governing
Board and there has to be consensus on all decisions made.
- There is a high degree of communication and interaction between the Board
and the management given that the organisation is very young and in the
process of establishing itself in the sector.
- Given the above there is a continual review of the contributions of each of
the members and the areas that require greater inputs and strengthening.
- Engagement of the Board by the CEO is made simpler by the fact that there is
transparency across the Board and a high sense of ownership within the Board.
- There is awareness of Conflict of Interest although there is no documented
Conflict of Interest policy.
Aavishkaar maybe contacted at: 201 & 221, Atlanta Estate, Dr. Ambedkar
Chowk, Off Western
Express Highway, Goregaon East, Mumbai 400101, Phone 91-22-39535292, 28778255 Email