Legatum Invests US$8.4 Million (INR 34 Crore) in Intellecap
Investment to Strengthen and Develop Intellecap, A Pioneer in Business Advisory Services for Investors and Companies in Social Business
October 20, 2007
Intellecap, a pioneer in providing advisory services for social investors & companies with social business models announced a strategic equity investment of US$ 8.4 Million from Legatum Global Development. Legatum is a private firm that invests in capital markets and in initiatives that support human and social development. Intellecap provides a range of consulting and advisory services to facilitate and enable innovation, capacity building and investment into the development sector.
Commenting on the investment, Intellecap Co-Founder and Director Mr. Vineet Rai said “Our business has been built upon a passion for sustainable development and an objective approach to the mainstream solutions that support it. We are delighted that, in Legatum, we have a partner that is committed to the same principles and whose investment will help us to increase our reach to the investors, enterprises and entrepreneurs focused on sustainable development in India.”
Mr. Philip Vassiliou, Senior Vice President of Legatum, said “Intellecap is an exciting and entrepreneurial company that has quickly created a unique niche, intermediating capital to businesses operating in India’s poorest communities. Legatum’s investment will ensure that Intellecap’s combination of world-class services and people, delivering independent, impartial and insightful enterprise solutions, remains unmatched.”
Mr. Vassiliou added, “Intellecap’s expertise in the microfinance sector gives them an unparalleled perspective on the opportunities that exist in rural India, particularly where grassroots programs are one of the most effective strategies for lifting communities out of poverty. This transaction represents another step forward in Legatum’s strategy to support the transformation of the multiple bottom-line sectors in India and drive sustainable change through an enterprise approach to development.”
Speaking on the investment, Mr. Upendra Bhatt and Mr. Pawan Mehra, Co-Founders of Intellecap said, “Legatum’s investment in Intellecap validates the company’s vision and our success in building an industry-leading team of consultants and investment advisors. This investment will enable Intellecap to leverage on its experience and expand into new sectors and extend its geographic reach nationally and internationally”.
Mr. Rai added that while continuing to build on newer initiatives in the field of finance and strategy in the microfinance sector, Intellecap is poised to launch exciting initiatives in other areas that benefit social and economic development. Areas of focus for Intellecap will include health, education, and technology.
About Legatum
Based in Dubai and London, Legatum’s mission is to promote excellence in both global investment and sustainable development. Legatum is comprised of a number of divisions:
Legatum Capital is a portfolio investor with over twenty years of experience investing proprietary capital in various industry sectors across the globe.
Legatum Global Development promotes global prosperity by applying market-based solutions to long-term development problems.
The Legatum Institute for Global Development is an independent policy institute, whose mission is to promote the principles that drive the creation of global prosperity and the expansion of human liberty. LIGD undertakes and publishes original research, including the Legatum Prosperity Index
The Legatum Center at MIT is a collaboration between LGD and the Massachusetts Institute of Technology, which promotes business development and entrepreneurship in the developing world through education and innovative business.