Unitus Labs, a US-based nonprofit that aims to reduce poverty via economic empowerment, has recently launched the Unitus Seed Fund, a venture fund that will invest in start-up enterprises in India. Its first three investments are in: Bodhicrew Services, an entity that assists people with skills development and job placement; Hippocampus Learning Centres, an educational center for children; and Milaap Social Venture, an online lending program. The amounts of the investments have not been released.
The fund, the size of which also has not yet been released, will focus on investing in enterprises that serve Indian markets, are developed beyond the concept stage, have a clearly differentiated value proposition, and have strategies to build distribution and marketing programs.
US-based Unitus Capital acts as financial advisor to the Unitus Seed Fund.
By Charlotte Newman, Research Associate
About Unitus Labs
Unitus Labs is a nonprofit organization with headquarters in the US and India that was set up in 2001 as Unitus Incorporated. Its aim is to reduce poverty via economic self-empowerment whereas Unitus Incorporated was more narrowly focused on providing funding and consulting services to microfinance institutions. As of 2010, Unitus worked with 22 partner microfinance institutions serving approximately 12 million clients. At that time Unitus reported total assets of approximately USD 9 million.
Sources and Additional Resources:
Unitus Labs: Press Release- “Unitus Seed Fund Launches in India With Three Seed Investments,” http://unituslabs.org/updates/unitus-seed-fund-launches-in-india-with-three-seed-investments/
MicroCapital.org story, August 4, 2010, “MICROCAPITAL BRIEF: Microfinance Consultant, Adam Sorensen, Questions Unitus’ Decision to Cease Microfinance-Related Activities,” https://www.microcapital.org/microcapital-brief-microfinance-consultant-adam-sorensen-questions-unitus-decision-to-cease-microfinance-related-activities/
MicroCapital Universe Profile: Unitus Labs
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Unitus+Labs
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