British International Investment

India Quotient Fund IV

IndiaSouth AsiaCommunications & IT servicesConsumer - HealthFinancial services

India Quotient Fund IV is a pre-seed/seed venture fund investing in unique to-India businesses building for mass-market Indian consumers (living outside of Tier 1 cities) and the vast SME landscape.

Our investment

Description of the investment.

The fund will support the growth of B2B and B2C-focused new enterprises across sectors, including agri-tech, fin-tech, software as a service (SaaS) for small and medium-sized businesses, by providing them with seed capital. These enterprises will focus on providing products and services catered to mass market, middle India, improving the way of doing business for B2B clients and providing economic opportunities for B2C clients.

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.

What?

Impact

Achieve higher levels of economic productivity for B2B businesses and improve economic opportunities for B2C clients (SDG 8.5)

How?

How?

The Fund will invest in companies across some of the following sectors and sub-sectors:

  1. SMBs: Provide access to SaaS technologies to streamline business processes for SMBs
  2. Agri-tech: Provide timely access to information via tech for improving farming incomes
  3. Fin-tech: Provide innovative financing products such as credit supply through joint risking loans for blue-collar workers

Who?

Stakeholder Geography Characteristics
Small-Medium Business (SMBs) owners and workers

Pan-India, likely beyond Tier I and II

Primarily underserved populations

Blue-collared workers, farmers, retailers, wholesalers

Pan-India, likely beyond Tier I and II

Small-scale suppliers (smallholder farmers) and low-income workers (blue-collar, drivers).

consumers in beyond tier-1

Pan-India, likely beyond Tier I and II

Variable - high to lower-income populations based on track record and advanced pipeline

Contribution/additionality

Contribution/additionality
  • Financial additionality: Capital is not offered in sufficient quantity.
  • Value additionality: Improvement of processes, practices or standards

Environmental and social information

  • 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.

  • 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 agreed on an ESAP focused on strengthening the integration of environmental and social risk management across the investment cycle. This includes a revised ESDD approach, code of conduct, and portfolio engagement that matches the level of risk and aligns with international standards.

Environmental and social risk

Medium-Low

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]

  • Key facts

    First published

    When the investment was first published on the website database.

    :
    October 2023
    Last updated

    When the last quarterly update of the website database occurred.

    :
    March 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D5615
    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 - Health, Financial services

    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.

    Investment type :
    Fund
    Start date :
    June 2023
    Amount :
    $7.97m
    Currency of investment :
    INR
    Fund Manager:
    India Quotient
    Domicile

    The company or investment fund’s place of incorporation.

    :
    India

Investments made by this fund into companies:

Investment name Country Region Sector Start date Status
Arise India South Asia Communications & IT services September 2023 Active
Blitz India South Asia Communications & IT services September 2023 Active
Brands.Live India South Asia Communications & IT services September 2023 Active
Curie India South Asia Communications & IT services September 2023 Active
DhiWise India South Asia Communications & IT services September 2023 Active
DPDZERO Technologies Private Limited India South Asia Financial services September 2023 Active
General Autonomy India South Asia Communications & IT services September 2023 Active
Intoglo India South Asia Communications & IT services September 2023 Active
Kim.cc India South Asia Communications & IT services September 2023 Active
Kosh India South Asia Communications & IT services September 2023 Active
LLUMO India South Asia Communications & IT services September 2023 Active
Luru India South Asia Communications & IT services September 2023 Active
Maino India South Asia Communications & IT services December 2023 Active
Marble India South Asia Communications & IT services December 2023 Active
Pep.Live India South Asia Communications & IT services September 2023 Active
PlatinumRX India South Asia Consumer - Health December 2023 Active
Popclub India South Asia Communications & IT services December 2023 Active
Recordbook India South Asia Communications & IT services September 2023 Active
Reo.dev India South Asia Communications & IT services September 2023 Active
Solarad India South Asia Communications & IT services September 2023 Active
Topmate India South Asia Communications & IT services September 2023 Active
Zipteams India South Asia Communications & IT services September 2023 Active

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