Intellecap, the advisory arm of impact-focused Aavishkaar Group, has fully acquired NR Management Consultants India (NRMC), it said on Thursday.
NRMC is research-focused and possesses an understanding of natural resources and rural development in India and Southeast Asia, Intellecap said.
The unit of Aavishkaar Group said the acquisition will help it drive more capital to natural resource-driven carbon sequestration solutions, with a focus on mitigating climate change.
“Aavishkaar Group identifies climate resilience investing as a global mega trend for the next decade,” founder and chairman Vineet Rai said.
Intellecap, set up in 2002, provides services including consulting and investment banking. It also offers an inclusive networking platform called Sankalp.
Sectors Intellecap concentrates on include financial services, agriculture, healthcare, energy, and livelihoods. Clients it has worked with include Triodos Bank, Shell Foundation, Aspada, Unilever, Tata Consultancy Services (TCS), and Morgan Stanley.
In May 2018, Intellecap had appointed Vikas Bali as chief executive officer. Bali had earlier worked with Accenture Strategy, part of global professional services company Accenture.
Prior to this, in July 2017, Aavishkaar Venture Management bought back a 40% stake in Intellecap from the venture capital arm of Dubai-based Legatum Global Development.
The larger Aavishkaar Group has more than $1 billion in assets under management across equity and credit classes. It has over 6,000 employees across regions including India, Indonesia, Bangladesh, and Kenya.
Apart from Intellecap, other group entities include Aavishkaar Capital, Arohan, IntelleGrow, Tribe, and Sankalp.
Investors in Aavishkaar Group include Shell Foundation, Triodos Bank, TIAA-Nuveen, and Dutch development bank FMO.