Neev Fund was conceptualized and launched in 2015 by Hon. Prime Ministers of India (Mr. Narendra Modi) and UK (Mr. David Cameron) to catalyze investment in Indian states which have traditionally not received private investments. The output envisaged from this initiative was creating a model for sustainable development that can provide economic, social and environmental benefits and create jobs in the eight low income states of India.
Since its inception, the Neev Fund has identified and successfully invested in ten portfolio companies in the target states. The Fund now almost completely committed and its investments into companies has led to significant impact at the grassroot level. The Neev Fund portfolio companies employ over 6,000 people and have demonstrated a waterfall effect on the value chain that the companies operate in.
Neev Fund portfolio companies directly employ over 6,000 people in the target states. Significant employment generation across the value chain of the portfolio companies
Neev Fund investments have catalyzed subsequent funding in the form of debt and equity in the portfolio companies. Over INR 4,800 Mn has been raised by portfolio companies from debt and equity providers for further expansion
The Fund has created impacts in the following Sustainable Development Goals significantly uplifting more than half a million persons, targeted to out of poverty through its various livelihood investments reaching out to communities that are underserved More...
Neev Fund has embedded the environmental, social and governance principles at investee level and consistently monitors and reviews their progress on actions taken. The Fund has ESG linked performance indicators.
SBI Group, through its 30 subsidiaries and 9 joint ventures is the dominant banking and financial services group in India, firmly entrenched in offering the entire range of banking & financial services. With over 20,000 branches across the globe, SBI is ranked amongst the top 25 banks in Asia by The Banker and is the only Indian Bank amongst seven Indian companies featuring in the global Fortune 500 list. With diversified presence across multiple sub sectors in the banking and financial services space such as Insurance, Securities, Investment Banking, SBI is the leading financial services company in India.
SBI is the largest bank in India and with 23% market share in assets and approx. one-fourth of the total loans and deposits market. The majority shareholding in the bank is with the Government of India.
SBICAP Ventures Limited (“SVL”) is a wholly owned subsidiary of SBI Capital Markets Limited (“SBICAP”) SVL was incorporated in November 2005 for carrying on venture capital fund activities i.e. to act as an asset management company for venture capital funds. At present SVL’s board comprises of 7 directors who are professional bankers having extensive experience in the domain of treasury both in domestic and international markets, commercial banking, project finance, international banking, credit, forex and investments, IT and compliance.
SVL is the Sponsor and the Investment Manager of the Neev Fund and is in the process of raising two more funds focused on Affordable Housing and Small & Medium Enterprises.
DFID is a department of the British Government, led by a cabinet minister. It is a vehicle of the British Government set up in 1997 to fight global poverty by delivering UK aid around the world. DFID considers education, health, economic growth, governance, climate and environment, water and sanitation, food and nutrition and humanitarian disasters as the key issues for removal of global poverty and bringing prosperity. DFID works directly in 28 countries across Africa, Asia and the Middle East.
DFID’s work with private enterprise is focused on increasing successful private investment in firms, sectors and people, particularly in fragile states; and, delivering better and more affordable basic services, including infrastructure and financial services, for poor people. In India, the focus is on the poorest people in India’s low income states, putting women and girls at the heart of its work, expanding the private sector’s potential to combat poverty and deepening engagement with India on global issues.
SIDBI was set up on 2nd April 1990 under an Act of Indian Parliament, acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities. Being the Principal FI for MSMEs, SIDBI has dedicated its resources towards evolution of a vibrant MSME ecosystem.
SIDBI’s initiatives have remained aligned to the national goals of poverty alleviation, employment generation, kindling entrepreneurship and fostering competitiveness in MSME sector.
SIDBIs mission is to facilitate and strengthen credit flow to MSMEs and address both financial and developmental gaps in the MSME eco-system and its vision is to emerge as a single window for meeting the financial and developmental needs of the MSME sector to make it strong, vibrant and globally competitive, to position SIDBI Brand as the preferred and customer - friendly institution and for enhancement of share - holder wealth and highest corporate values through modern technology platform.
Milk Mantra is an Odisha based manufacturer and marketer of milk and milk based product with the objective of building an innovative dairy products business whilst creating sustainable impact among farmers. It has a product line comprising package milk, curd, paneer and milk beverages.
Sunsource is a Noida based company, which develops, engineers, procures, constructs and operates solar power plants (special focus on rooftops) and projects for institutional, industrial, commercial and non-profit sector. It has designed power plants over 1 GW globally and has worked on more than ~100 MW PV plants across 18+ states in India and abroad.
Mahendras is a leading education brand based out of Lucknow which provides coaching for the Bank PO, Railway recruitment and SSC exams. It has nearly 140 centres Pan-India and is rapidly expanding in the skill development business in line with National Skill India mission.
Rahi Care, based out of Chandigarh, runs a chain of dialysis centres primarily in Public-Private Partnership model and has nearly 50 such centres. It provides affordable healthcare to underprivileged sections of the society and is also looking to expand in the private operating model.
Incorporated in October 2017, Blue Planet is an end to end Waste Management Platform that covers the entire spectrum of waste – collection, transportation, segregation, processing, treatment and disposal activities in India. The company aims to become an integrated player across value chain of waste management though organic and inorganic growth by way of strategic and bolt on acquisitions.
Through IAN Fund, Neev will expand its reach and invest into more number of investments of smaller ticket size, in-turn building on a diverse portfolio of investments that create impact and scale in infrastructure sectors. These sectors will enable development of entrepreneurial culture in India, mostly in start-up and growth phase.
USEIPL, promoted by the United Telecoms Limited (“UTL”) group. It currently has a portfolio of ~100 MW of operational wind power projects.
Crystal Logistic (Cool Chain) Ltd is one of the leading service providers in the integrated cold chain logistics solution space. Crystal group is a complete supply chain service provider with services such as refrigerated warehousing, cold storage distribution and innovative solutions like portable cold storage.
Leap India is an agri-storage solutions provider for grains under the Govt. of India schemes rolled out by Food Corporation of India and other state bodies. It provides innovative solutions of storage by building modern grain storage silos and helping the farmers by proving them the right price for their produce.
PRESPL, incorporated in 2011, is positioned as a Market Leader and is recognized as the only Company in the organized sector of Biomass Supply Chain Management in India has also ventured into value addition activities like briquetting, pelleting, to refaction, bio-gas, bio-fuel extractions etc.
Neev Fund IC comprises of nominees of DFID, SBI, SVL and CIO of the Fund. DFID has 2 nominees, SBI and SVL have 1 nominee each. In addition to the above, CIO – Neev Fund is also a IC member. The IC comprises of professionals who have significant years of investment and banking experience amongst themselves.
SIDBI has the right to nominate a member on the IC.
The IAC of the Fund comprises of 1 nominee each from DFID, SBI and SBICap Trustee Company Limited. In addition to the above, SIDBI has the right to nominate a member on the IAC of the Fund.
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Dairy firm Milk Mantra is planning to acquire a plant in Kolkata and set up a new plant for curd at its existing facility in Odisha at an estimated investment of around Rs 70 crore as part of its strategy to expand business, a top company official has said.
Manav has been a private equity investor and investment banker for 20 years in Infrastructure, healthcare and technology.
Since 2013, Manav headed India operations for Brightlink Partners, Inc – an investment and advisory firm headed out of Tokyo, Japan and focusing on Indo-Japan investment in India and Asia.
From 2014 for two years, Manav was also a Partner at Brescon – a shop specializing in special situation asset advisory.Earlier from 2006, Manav was the founding member of Macquarie’s infrastructure team in India which raised c. US1.2bn fund in partnership with IFC Washington and State Bank of India. Located in and heading the New Delhi office, Manav was the face of Macquarie to the government – leading consultations with line ministries and the Finance Ministry. Subsequently, as Director at SNC Lavalin India Infra fund (a subsidiary of Canada based SNC Lavalin), Manav originated and concluded private equity investment in road assetco and was helping to raise an India focused fund that had soft commitments of over US$ 200mn. Manav has also worked at advisory/corporate finance at PwC and KPMG leading initiatives for corporate advisory, privatization, cross-border M&A, and policy advisory to the governments.
He is an MBA with graduate degree in engineering.
Ashwin has 7 years of experience in the financial services space working with Citi investment banking, Matrix Partners VC fund and TVS Infrastructure. He has been involved in many M&A and capital raising exercises in his previous stints.
Education: MBA from IIM Ahmedabad and BE (Electronics) from Pune University.
Akshay – Akshay has over 13 years experience in Private Equity, Principal Investments and Advisory roles with leading domestic and international investors. He started his career with the India Infrastructure Fund (a c.US$1Bn Infrastructure Fund managed by IDFC Alternatives) and has since worked with multiple private equity and principal investors. His previous experience includes working with CapAleph Private Equity, GMR Infrastructure, and MAPE Advisory Group.
At CapAleph, Akshay handled the Infrastructure Support Services and Education & Skill Development segments for the Fund. At GMR Infrastructure, Akshay was part of the Project Finance team working on the road sector where he submitted multiple bids to the NHAI. He has been part of teams that have invested over US$100Mn in the Indian infrastructure space.
Akshay holds a PGDM/MBA from the Indian Institute of Management, Lucknow and a Bachelor of Commerce degree from Bangalore University
Abhishek has over 5 years of work experience in the financial services and infrastructure space with EY investment banking & infrastructure services, and Vikram Solar. He has worked on transactions in the waste management, hospitality, logistics & warehousing and real estate space. He was part of the Metrod’s acquisition of the Leela in Goa.
He has also pursued the Indian Chartered Accountancy and CFA (USA) course. Education: MBA/PGDM from IIM Calcutta and BBA (Hons.) from St. Xavier’s College, Calcutta
Jai has over 10 years of experience across Fund Management, Strategic Advisory, Equity Research and Investment Banking working with Kitara Capital, AltFort Capital
He has executed various deals in the Private Equity and Investment Banking space
He has been also involved fund raising, fund formation and strategic advisory roles
Jai holds a bachelor’s degree in Commerce and is a MBA in Finance from Xavier Institute of Management and Research
Kirti has over 9 years of post-qualification experience in auditing, tax planning and preparation and presentation of Financial Statements. She has worked with Ernst and Young as an auditor prior to joining SBICAP Ventures Limited.
Education: Chartered Accountant (ICAI), Company Secretary (ICSI), DISA(ICAI), NET (UGC), M. Com
Ms. Preeti Patle is the Office Manager for the Investment Manager and joined SVL in August 2017. Preeti has around two decades of work experience in the hospitality, power and the Investments/Financial Services sector as an HR & Admin professional. She is B.A. graduate and an M.B.A. in HR from Mumbai University.
Prior to joining SVL, she was working with different group companies of the Patni Group
Anjana has more than 12 years of experience in the field of sustainability, ESG and impact measurement.
She leads the portfolio for ESG due-diligences, ESG actions and review, technical assistance, capacity building and programme results & monitoring.
In addition to an important ESG compliance function, she plays a key role in delivering additional value from systemic improvements across the portfolio. Prior to her role at the fund, she was leading the sustainability programme at IndusInd Bank.
She holds a Masters in Planning with specialisation in Environment from School of Planning & Architecture and a Bachelors in Architecture.