This investment was made when British International Investment was named CDC Group.
Our investment
Description of the investment.
Description of the investment.
Our investment in the fund will support the growth of highly scalable, tech-enabled companies in India, with the aim of creating large-scale employment for underserved groups and increasing the availability, affordability and accessibility of goods and services.
Impact information
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
What?
Impact |
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How?
Primary | Secondary |
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Economic enabler: Chiratae will invest in tech-enabled platforms that connect local workforce and suppliers to markets (c. 10 per cent of portfolio in Fund III) as well as to resources and inputs required to meet that demand. |
Who?
Stakeholder | Geography | Characteristics |
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Employees, micro-entrepreneurs |
Pan-India - mainly Tier 1 and Tier 2 cities, some companies may also reach populations in smaller cities and rural areas. |
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Consumers |
Pan-India - mainly Tier 1 and Tier 2 cities, some companies may also reach populations in smaller cities and rural areas. |
Likely middle income, although some companies may reach lower-income segments. |
How much?
Scale | Depth/Duration |
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Contribution/additionality
Contribution/additionality |
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Grid score
Grid Score
To help us direct our investments, we previously used a tool called the Development Impact Grid. It scored investments out of four, based on two factors: the difficulty of investing in a country and the propensity of the sector to generate employment. This tool was used for investments until the end of 2021. Since 2022 it has been replaced by the Impact Score. |
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2.0-2.2Market context: In India, only 0.3 per cent of new businesses that are launched are financed by venture capital vs 0.6 per cent in the US. |
Risk
Alignment Risk
Execution Risk
Unexpected Impact Risk
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Environmental and social information
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Environmental and social summary
A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
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Environmental and social risk
A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.
Environmental and social summary
We will work closely with the fund manager to develop and implement an ESMS appropriate for the asset class.
Reporting and Complaints Mechanism
The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.
For any other general enquiries contact us at [email protected]
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Key facts
- Last updated
When the last quarterly update of the website database occurred.
- June 2024
- Project number
An identifier number shared by investments in the same project.
- D4055
- Status
The current status of the investment (green flag for active and red flag for exited).
- Active
- Region
The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
- South Asia
- Sector
We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.
- Communications & IT services, Consumer - Education, Consumer - Health, Consumer - other services, Financial services, Food & Agriculture, Manufacturing
- Investment type :
- Fund
- Start date :
- June 2020
- Amount :
- $10m
- Currency of investment :
- USD
- Fund Manager:
- Chiratae India Investment Manager
- Domicile
The company or investment fund’s place of incorporation.
- Mauritius
We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.
For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.
For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.
For direct equity investments, this is the date at which British International Investment exited the investment.
For debt investments, this is the date at which the final debt repayment was made.
For funds, this is the date at which the fund was terminated.
For underlying fund investments, this is the date at which the fund manager exited the investment.
The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.
For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.
The currency in which the investment was made.
- 2X Gender Finance
Indicates whether the investment is ‘2X qualified’ using the 2X Challenge criteria. You can find out more here. It only applies to investments made from 2018 onwards, when the 2X Challenge was first launched.
- Fully qualified
- Last updated
Investments made by this fund into companies:
For further information about these companies, visit https://www.chiratae.com/
Investment name | Country | Region | Sector | Start date | Status |
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Abita Innovations Private Limited (Doc32) | India | South Asia | Consumer - Health | November 2020 | Active |
Absentia Virtual Reality Private Limited (Pyxis) | India | South Asia | Communications & IT services | March 2020 | Active |
Aether Biomedial Sp, Z.o.o | India | South Asia | Communications & IT services | April 2020 | Active |
Alpha Digital Health Pvt Ltd | India | South Asia | Consumer - Health | November 2020 | Active |
Blitzscale Technology Solutions Private Limited (Wmall) | India | South Asia | Communications & IT services | December 2019 | Active |
Brainbees Solutions (Firstcry) | India, South Asia | Asia, South Asia | Consumer - other services | March 2021 | Active |
Cavli Wireless | India | South Asia | Communications & IT services | December 2022 | Active |
Chakadola Technologies Private Limited (Good Meetings) | India | South Asia | Communications & IT services | June 2021 | Active |
CropIn Technology Solutions Private Limited | India | South Asia | Food & Agriculture | December 2020 | Active |
Curefit Healthcare Private Limited | India | South Asia | Consumer - other services | November 2019 | Active |
Curefoods India Private Limited (Eatfit) | India | South Asia | Consumer - other services | December 2021 | Active |
DPD Technologies (Queuebuster) | India | South Asia | Communications & IT services | June 2022 | Active |
Ergos Business Solutions Private Limited | India | South Asia | Food & Agriculture | October 2020 | Active |
Getvantage Tech Pvt Ltd | India | South Asia | Financial services | October 2020 | Active |
Globalbees Brands | India | South Asia | Communications & IT services | July 2021 | Active |
Healthifyme Pte Ltd | India | South Asia | Consumer - Health | June 2021 | Active |
Hevo Data Inc | India | South Asia | Communications & IT services | September 2021 | Active |
KBCols Sciences Pvt Ltd (KB Col) | India | South Asia | Consumer - Health | July 2020 | Active |
Khati Solutions Pvt Ltd (Oye Rickshaw) | India | South Asia | Communications & IT services | February 2020 | Exited |
Lenskart Solution | India | South Asia | Communications & IT services | July 2021 | Active |
Locofast Online Services Pvt Ltd | India | South Asia | Communications & IT services | January 2020 | Active |
MyScoot Inc (Exly) | India | South Asia | Communications & IT services | March 2022 | Active |
Newbazaar Technologies (Shopse) | India | South Asia | Communications & IT services | March 2021 | Active |
PB Fintech Private Limited (Policybazaar) | India | South Asia | Financial services | September 2020 | Exited |
Programmised seed investments | India | South Asia | Communications & IT services | June 2023 | Active |
Quaking Aspen (Pando) | India | South Asia | Communications & IT services | January 2020 | Active |
R N Chidakashi Technologies (Emotix) | India | South Asia | Communications & IT services | August 2021 | Active |
Real Learning Technologies (Quest) | India | South Asia | Consumer - Education | March 2021 | Active |
Redcliffe Lifetech | India | South Asia | Consumer - Health | March 2022 | Active |
Rodeo Travel Technologies Pvt Ltd | India | South Asia | Communications & IT services | January 2020 | Active |
Science for Society Techno Services (S4S) | India | South Asia | Communications & IT services | September 2022 | Active |
Smartfin Inc (Workomo) | India | South Asia | Communications & IT services | January 2020 | Exited |
Smartpaddle Technology Private Ltd | India | South Asia | Manufacturing | December 2021 | Active |
Squadrun Inc | India | South Asia | Communications & IT services | January 2020 | Active |
Targetone Innovations Private Limited (Gomechanic) | India | South Asia | Communications & IT services | December 2019 | Exited |
Ulink AgriTech Private Limited | India | South Asia | Food & Agriculture | December 2021 | Active |
Uniphore Software Systems Private Limited | India | South Asia | Communications & IT services | November 2019 | Active |
Uniphore Technologies Inc | India | South Asia | Communications & IT services | June 2021 | Active |
Vay Networks Services Pvt Ltd | India | South Asia | Communications & IT services | November 2021 | Active |
Wandx Solutions (Shine) | India | South Asia | Communications & IT services | March 2021 | Active |
Weinnovate Biosolutions Private Limited | India | South Asia | Consumer - Health | August 2020 | Active |