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The VC Firms That Raised Fund In 2011
Aavishkaar India
In series D round of funding, Mumbai-based venture capital firm Aavishkaar India raised $62 million for its new fund Aavishkaar II from CDC Group, KfW Group, Dutch development bank FMO and the International Finance Corporation. Aavishkaar India was created to promote inclusive development in rural and semi-urban regions in India. Incorporated in October 2001 and registered with SEBI as a VC fund in May 2002, it helps establishments from both domestic and global financial development institutes. The key investment criteria for the fund are-scalability and the potential to make strong positive social impact on rural or semi-urban India. Till date, the firm has made 16 investments across industries, including renewable energy, waste management, information and communications technology, agro-based technology, handicrafts, healthcare and rural innovations. Few of the portfolio companies are Servals Automation, and Vortex Engineering.
