This investment was made when British International Investment was named CDC Group.
Our investment
Description of the investment.
Description of the investment.
CDC’s investment in Pravega underlines our commitment to supporting technology innovation geared towards leapfrogging consumer challenges pertaining to affordability and accessibility of essential goods and services in India, while creating large scale economic opportunities along the way.
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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Promote economic opportunities by creating jobs and enhancing access to more affordable goods and services for productive use (SDG 8.5, 1.4). |
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How?
How? |
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CDC’s commitment will support Pravega to invest in highly scalable early stage companies, Pravega can support their growth and large-scale employment creation, both directly and through the services they provide to other market stakeholders. |
Who?
Stakeholder | Geography | Characteristics |
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Suppliers, employees, consumers |
India |
Primarily low-income and middle-income |
How much?
Scale | Depth/Duration |
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Supporting the creation of an estimated 10,000 direct and indirect jobs over the lifetime of our investment. |
The impact is likely to be deeper for low-income individuals accessing full-time employment. Full-time employment is expected to have a sustained impact on stakeholders’ livelihoods. |
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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1.7-2.4 |
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.
- D3971
- 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 - other services, Financial services
- Investment type :
- Fund
- Start date :
- March 2020
- Amount :
- $7m
- Currency of investment :
- INR
- Fund Manager:
- JSM Advisors Pvt Ltd
- Domicile
The company or investment fund’s place of incorporation.
- India
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.
- Last updated
Investments made by this fund into companies:
For further information about these companies, visit https://www.pravegavc.com/
Investment name | Country | Region | Sector | Start date | Status |
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Algiz Consultancy Services Pvt Limited (Zipsure) | India | South Asia | Financial services | March 2018 | Exited |
Arthashastra Fintech Private Limited (ePayLater) | India | South Asia | Financial services | December 2020 | Active |
Chefkart Hospitality Private Limited | India | South Asia | Consumer - other services | June 2021 | Active |
Citizengage Solutions Private Limited | India | South Asia | Communications & IT services | March 2016 | Exited |
CreatorOS Inc | India | South Asia | Communications & IT services | December 2021 | Active |
Crofarm Agriproducts Private Limited | India | South Asia | Communications & IT services | March 2016 | Active |
Datasigns Technologies Private Limited (Shubhloans) | India | South Asia | Financial services | March 2017 | Active |
Digital Gold India Private Limited (Safegold) | India | South Asia | Communications & IT services | March 2019 | Active |
Flextechnologies Pte. Ltd | India | South Asia | Communications & IT services | March 2021 | Active |
Fyle Technologies Pvt Ltd | India | South Asia | Communications & IT services | March 2018 | Active |
Greyatom Edutech Private Limited | India | South Asia | Consumer - Education | March 2017 | Exited |
Ikarus Process Automation Pvt Ltd | India | South Asia | Communications & IT services | March 2016 | Exited |
InnovAccer Inc | India | South Asia | Communications & IT services | March 2016 | Active |
Komorebi Tech Solutions Private Limited (Cityflo) | India | South Asia | Communications & IT services | March 2019 | Exited |
Krab AI, Inc | India | South Asia | Communications & IT services | December 2021 | Active |
Leucine Inc | India | South Asia | Communications & IT services | December 2021 | Active |
Leucine Medtech Pvt Limited | India | South Asia | Communications & IT services | March 2020 | Active |
Mintoak Innovations Private Limited | India | South Asia | Communications & IT services | March 2020 | Active |
My Phygital Cafe Private Limited (Grubox) | India | South Asia | Consumer - other services | March 2017 | Active |
Ordenado Labs Pvt Ltd (Kaagaz) | India | South Asia | Communications & IT services | December 2020 | Active |
PropertyShare Online Platform Pvt Ltd | India | South Asia | Communications & IT services | March 2016 | Active |
Socionity Software Solutions Pvt Ltd | India | South Asia | Communications & IT services | December 2020 | Active |
WorkEx Solutions and Services Pvt Ltd | India | South Asia | Communications & IT services | March 2017 | Exited |
Zealthlife Pte. Ltd | Singapore | Rest of the World | Communications & IT services | December 2021 | Active |