Article published on VC Circle by Shrija Agarwal on October 18, 2010, excerpt below:
Ennovent Chasing Sustainable Innovations at Bottom of Pyramid
The early stage fund will invest under one-million dollar into sustainable businesses across five sectors.
Last week, in a big fillip to the bottom of pyramid investing, pedigree valley investor Vinod Khosla unveiled a plan to reinvest his profits from SKS Microfinance’s stock-exchange listing in a social venture capital fund. “Such related events reaffirm the faith of investors and promote entrepreneurs building sustainable businesses,” said Tripat Preet Singh, Managing Director, Sustainable Enterprise Fund, a social venture fund.
As the name suggests, Sustainable Enterprises Fund – an initiative sponsored by Ennovent, a for-profit enterprise – will look to promote entrepreneurs who advance disruptive innovations for sustainability at the base of the economic pyramid.
The early stage fund will invest under one-million dollar into sustainable businesses across five sectors – energy, food, water, health and education. But it will not provide seed capital for pre-development ideas as it prefers enterprises with a short-to-medium term operating history. “Building on our broad expertise and leveraging our network, we will discover, finance and scale innovations that catalyze fundamental change to sustainable development,” Singh said.
Though the fund may broaden its horizon, it will initially focus on supporting entrepreneurs with innovations valuable to the bottom of pyramid in India.
Read the full article here on VC Circle’s website.