On Monday, Netherlands-based C4D Partners said it had received approval from market regulator Sebi to launch its $50 million (Rs 408 crore) fund to invest in Indian start-ups. C4D Partners’ Asia Fund raised $30.3 million in its 2018 debut.

“The firm recently received approval from the Securities and Exchange Board of India (Sebi) for a debut Indian fund worth $50 million and expects to close the fund’s debut by the middle of next year,” C4D Partners said in a statement.

It added that with the launch of the C4D Bharat Shubharambh Fund, C4D Partners would continue to focus on sustainable business models with solid ESG (environmental, social and governance) scores.

“Through our first fund, we invest in financial inclusion, agri-processing, education and skills, waste management and last-mile delivery. We will continue to focus on these sectors and any that significantly impact marginalised communities and society in India’s Other industries. Rural populations,” said Arvind Agarwal, co-founder and CEO of C4D Partners.

After the fund’s launch, the company plans to make about 18-20 individual investments in the first five years, with an initial ticket size of $1-2 million and a maximum of $5 million.

C4D Partners, through its existing fund C4D Asia Fund, has invested around 42% of its AUM in women-owned and women-led businesses and has pursued the same strategy for its second fund, which focuses exclusively on India.
“The company intends to invest at least 30% of its total capital into portfolio entities owned and led by women and to encourage portfolio entities to include women in their supply chains and workforce,” the statement said.