IntelleGrow looks to raise series-B funding

Tags: News
IntelleGrow, a venture debt financing company for small and growing social enterprises founded by Intellecap, is looking at raising their series B funding in the coming one or two months.

The company, which had raised Rs 10 crore in series A, hopes to reach disbursals of around Rs 50 crore before the end of March this year.

Typically, IntelleGrow lends to start-up companies in social sectors like financial services, clean energy, water and sanitation, agriculture and rural business, healthcare and education.

After setting up in 2012, the company has handed out over 25 loans in the size ranging between Rs 50 lakh to Rs three crore. In their series A funding, the Michael and Susan Dell foundation were the sole investors.

“We have already signed the term sheet with the investors and the process may take a month or two to complete. Apart from this, we also hope to complete 10-15 deals every year through our other subsidiary - Intellecap Impact Investment Network ( I cube N), an angel investor network,” said Anurag Agarwal, chief executive officer, Intellecap.

IcubeN, is a network of 50 high networth individuals who are keen to invest in social enterprises and look to address the pre-VC funding gap in this space through Intellecap’s services. So far, they have made around five deals.

On the other hand, parent company Intellecap, which is into providing consulting services and research for companies and entrepreneurs looking to address customers at bottom of the pyramid in, now wants to step out of India and tap business in Africa and SE Asian countries.

“There is tremendous opportunity in India but we do not want to be restricted. We have been doing projects in Africa and South East Asian countries. This year after conducting our annual investor and seeker summit in Africa, we will evaluate setting up a physical presence soon,” said Agarwal.

With this, Intellecap hopes to become a Rs 100 crore company in three years, while the group company aims to be a Rs 300 crore one. Right now Intellecap group has revenues of Rs 75 crore.

trushnaudgirkar@mydigitalfc.com

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