Aavishkaar Goodwell seeks to raise $100M: report

Microfinance Monitor, March 6, 2010: Aavishkaar Goodwell is exploring to raise $100 million in commitments for its second fund, said a report by VCCircle.Com.

Aavishkaar Goodwell is a joint venture between India’s Aavishkaar and Dutch firm Goodwell, is much bigger in size compared to its first fund. The firm launched its first fund in 2006 and raised $18.3 million by mid-2008.

Aavishkaar Goodwell is expected to tap its existing investors International Finance Corp, Blue Orchard, Netherlands Development Finance Company (FMO), and Deutsche Bank. Besides microfinance, the new fund will also look at technology enabling companies and housing finance companies in the social context, said the report.