By Rose Reis | Next Billion | Center for Health market Innovations | March 27, 2012
Say you find yourself in need of a guerilla marketing strategist to promote biofuel recycling at India’s 5-star hotels. You may just turn to Ennovent.com to locate experienced, socially-committed talent.
In fact, more than 1,000 people have registered with Ennovent’s network, which launched last September, to get connected to entrepreneurs, investors and experts. Ennovent aims to accelerate innovations impacting the lives of low-income people. Ennovent also manages Impact Investment Holding, which recently invested in Barefoot Power.
And this week, Ennovent launched the trial version of the Impact Circle, a network of investors offering diverse capital solutions to sustainable enterprises. Investors had been able to identify new enterprises through the platform, but many wanted to team up to discuss and vet opportunities. The circle brings together a group of more than 10 accredited investors and funds looking to create a sustainable impact at the BoP. The Impact Circle will finance enterprises looking to raise funds in the range of $50,000 USD to $3 million in equity, debt or “quasi equity” for five to seven years.
Partnering with California-based Toniic on international investments, Ennovent’s Impact Circle includes fund members like Omnivore Capital and Lok Capital as well as individuals from diverse backgrounds including grocery retail, fashion, consulting, IT, telecommunications, and manufacturing; and investing experiences with Acumen Fund, Ashoka, Mumbai Angels, Seed Fund, and the Asia Venture Philanthropy Network.
Impact Circle Director Digbijoy Shukla said, “We wanted to prove the model could work first in India, but the idea is to make this a global network.” Shukla hinted that Africa or China could be next, but said that at the moment, “our hands are full in India.”
Contact Digbijoy Shukla if you are interested in joining the Impact Circle or would like to learn more.