Vineet Rai’s group has assets under management of Rs 6,700 crore. The latest investment in his Aavishkaar group is $37 million by FMO, a Dutch entrepreneurial development bank. Yet the company's founder and chairman says he has no money.
This latest infusion of capital is to be used to catapult his impact fund business into a platform for impact investment in Asia and Africa, to increase his and his associates stake and capitalise their debt businesses further, and bring in the latest technology and best talent to grow the company.
To understand the leap that Rai, founder ...
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