Neev Fund is sponsored by Department for International Development-Govt. of UK, State Bank of India, Small Industries Development Bank of India.
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
Access to Services
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
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.See more