- Active
- Exited
This investment was made when British International Investment was named CDC Group. It was also was made under a previous strategy. We disclose information on all our current investments, but narrative information on our pre-2012 investments, when we introduced a new strategy, may be limited.
We are invested in Utkarsh Small Finance Bank through Aavishkaar Goodwell India Microfinance Development Company II Limited, which is managed by Aavishkaar Goodwell.
We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, British International Investment takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- India
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Financial services
- Website:
- https://www.utkarsh.bank/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund:
- Aavishkaar Goodwell India Microfinance Development Company II Limited
- Fund Manager:
- Aavishkaar Goodwell
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- June 2011
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- India
This investment was made when British International Investment was named CDC Group.
Our investment
In late 2014, CDC made an $11 million direct equity investment in the institution. The funding was used as growth capital to increase Utkarsh’s customer reach, product range and to help it expand into other services including micro-enterprise loans.
In November 2016, Utkarsh received a licence to become a small finance bank enabling it to offer a wider range of banking services to the poor and low-income population. CDC invested $22.1 million of Tier 2 debt in Utkarsh to support the launch of its banking operations.
In November 2017, we invested a further $3 million of equity to support the company following economic disruption caused by the demonetisation of certain banknotes in the country.
Other key investors include the International Finance Corporation and Aavishkaar Goodwell.
Expected impact
Utkarsh's core business lies with group loans to under-served individuals. Its current client base includes 1.3 million active microfinance borrowers, who are mainly women.
These small groups of four to 10 women, usually based in rural areas, are offered loans ranging in size from $100 to $420 to support small-scale business growth and farming. This, in turn, delivers wider economic benefits to their families and local communities.
Following its transformation into a bank, Utkarsh now also offers a savings channel and other important financial services (such as insurance) for its previously unbanked clients.
Environmental and social aspects
CDC took an active role in developing Utkarsh’s environmental and social policies, helping the institution implement a code of conduct and join the Smart Campaign for responsible lending among micro-finance institutions.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- India
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Financial services
- Website:
- https://www.utkarsh.bank/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Equity, Direct Debt
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- December 2014
- Amount
:
For direct investments, this is the total amount that British International Investment has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that British International Investment has committed to the fund.
- $36.6m
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- India
This investment was made when British International Investment was named CDC Group.
We are invested in Utkarsh Small Finance Bank through Sarva Capital LLC (Formerly Lok II), which is managed by Lok Capital.
We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, British International Investment takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- India
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Financial services
- Website:
- https://www.utkarsh.bank/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund:
- Sarva Capital LLC (Formerly Lok II)
- Fund Manager:
- Lok Capital
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- December 2014
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- India
This investment was made when British International Investment was named CDC Group.
We are invested in Utkarsh Small Finance Bank through Growth Catalyst Partners, which is managed by Lok Capital.
We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, British International Investment takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- India
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Financial services
- Website:
- https://www.utkarsh.bank/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund:
- Growth Catalyst Partners
- Fund Manager:
- Lok Capital
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- September 2016
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- India
This investment was made when British International Investment was named CDC Group.
We are invested in Utkarsh Small Finance Bank through Lok Capital Growth Fund, which is managed by Lok Capital.
We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, British International Investment takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- India
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Financial services
- Website:
- https://www.utkarsh.bank/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund:
- Lok Capital Growth Fund
- Fund Manager:
- Lok Capital
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- September 2016
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- India
This investment was made when British International Investment was named CDC Group.
We are invested in Utkarsh Small Finance Bank through Faering Capital Fund III, which is managed by Faering Capital Advisors LLP.
We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, British International Investment takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- India
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Financial services
- Website:
- https://www.utkarsh.bank/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund:
- Faering Capital Fund III
- Fund Manager:
- Faering Capital Advisors LLP
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- October 2017
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- India
This investment was made when British International Investment was named CDC Group.
We are invested in Utkarsh Small Finance Bank through Aavishkaar Emerging India Fund, which is managed by Aavishkaar Venture Management Services.
We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, British International Investment takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- India
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Financial services
- Website:
- https://www.utkarsh.bank/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund:
- Aavishkaar Emerging India Fund
- Fund Manager:
- Aavishkaar Venture Management Services
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- November 2017
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- India
This investment was made when British International Investment was named CDC Group.
We are invested in Utkarsh Small Finance Bank through Growth Catalyst Partners – Annex Fund, which is managed by Lok Capital.
We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, British International Investment takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- India
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Financial services
- Website:
- https://www.utkarsh.bank/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund:
- Growth Catalyst Partners – Annex Fund
- Fund Manager:
- Lok Capital
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- March 2021
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- India
