Michael & Susan Dell Foundation invests $1.8M in IntelleGrow

13 February, 2013

Michael & Susan Dell Foundation (MSDF) has invested Rs 10 crore ($1.8 million) in Mumbai-based IntelleGrow, a venture debt financing company for small and medium social enterprises.

IntelleGrow extends debt financing to early-stage enterprises with a turnover of less than Rs 50 crore and at least 12 months of track record. It provides customised financing solutions using flexible repayment schedules linked to cash flows, according to the company.

“The Series A funding from MSDF will allow us to take the spirit of innovation, which we inherited from our parent entity Intellecap and which got supported by Shell Foundation, to build a Rs 250 crore portfolio by 2015,” said Sanjib Jha, CEO of IntelleGrow.

As of now, the company has disbursed loans worth Rs 15 crore to SMEs across India – in sectors such as waste water recycling, clean energy solutions, low-cost irrigation, rural healthcare, rural electrification and non-credit financial inclusion, among others.

Debasish Mitter, India director at Michael & Susan Dell Foundation, said, “We share their goal of helping market-based startups focused on providing services to the underprivileged, particularly in our foundation’s mission-related areas of education, health and family economic stability.”

Simon Desjardins, programme manager at Shell Foundation (which was involved in the creation of IntelleGrow), said, “IntelleGrow is validating that many un-banked small businesses can be served through a new viability-based approach to lending. Through its lending activities, IntelleGrow enables pioneering enterprises in key sectors to scale up and deliver social and economic impact in India.”

IntelleGrow is a registered NBFC, founded by Intellecap Capital Advisory Services Pvt Ltd, with support from Shell Foundation.

MSDF’s Indian NBFC investments include Sonata Finance, Arohan Financial Services, Swadhaar FinServe, Janalakshmi and Ujjivan.

(Edited by Sanghamitra Mandal)


Leave Your Comment
Venture debt lender IntelleGrow to reach book size of Rs 500Cr in 3-4 years, bets on clean energy

Venture debt lender IntelleGrow to reach book size of Rs 500Cr in 3-4 years, bets on clean energy

Bruhadeeswaran R 4 years ago
Venture debt lender IntelleGrow Finance Pvt Ltd (IGF) which is backed by Michael & Susan Dell Foundation (MSDF), is planning to increase its portfolio to...
Venture debt finance firm IntelleGrow raises $5M led by Omidyar Network

Venture debt finance firm IntelleGrow raises $5M led by Omidyar Network

Bhawna Gupta 3 years ago
Venture debt lender IntelleGrow Finance Pvt Ltd (IGF) has raised Rs 28 crore ($4.5 million) from Omidyar Network with participation of existing investor Michael &...
Venture debt firm IntelleGrow raises $20 mn from Omidyar, others

Venture debt firm IntelleGrow raises $20 mn from Omidyar, others

TEAM VCC 1 year ago
Venture debt lender Jain Sons Finlease Ltd, which operates under the brand IntelleGrow, on Tuesday said it has raised Rs 134 crore ($20.14 million) from...
No Comments

Michael & Susan Dell Foundation invests $1.8M in IntelleGrow

Powered by WordPress.com VIP