Accion’s Venture Lab invests in financial inclusion startup Varthana

VC Circle 7 May 2013
In its roadmap for Asia, Accion has listed several plans for India where more impact investments and micro-credit standardisation programmes are expected.
Global social investor Accion has announced a set of five initial investments by Venture Lab, its $10 million seed capital initiative, including one investment in Bangalore-headquartered Varthana, a non-banking finance company that provides loans to affordable private schools. Accion launched Venture Lab in April 2012.
Varthana provides loans and support to affordable private schools that cater to the poor and the emerging middle class. Although the exact quantum of investment was not disclosed, Venture Lab typically provides capital in the range of $100,000-$500,000 (Rs 54 lakh-Rs 2.7 crore), invested either as convertible debt or equity for supporting seed-stage enterprises.
It seeks to invest in firms involved in the financial inclusion space.
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