29 | Annual Report 2023-24 Investor’s Profile PROMOTER INSTITUTIONAL INVESTORS Aavishkaar Group Tano India Private Equity Fund II Aavishkaar Goodwell India Microfinance Development Company II Ltd Maj Invest Financial Inclusion Fund II K/S TR Capital III Mauritius Aavishkaar Group is a global pioneer in taking an entrepreneurship-based approach towards development. The Group is focused on developing the impact ecosystem in the continents of Asia and Africa. Aavishkaar Group manages assets in excess of USD 1 bn across Equity and Credit, with ~9,000 employees present across India, Bangladesh and Kenya. Aavishkaar Group includes Aavishkaar Capital - Pioneer in equity led impact investing, Arohan - One of India’s largest Technology led Financial inclusion platform, Ashv - specialized lender to small and growing businesses, Intellecap – Thought Leader and Advisory business with a focus on sustainability and Sankalp Forum – one of the world’s largest inclusive development led platform. Aavishkaar Group’s shareholders include TIAA-Nuveen, Triodos Bank, Shell Foundation and Dutch Entrepreneurial Development Bank, FMO. Its investments into Arohan Financial Services Limited have been done through Aavishkaar Venture Management Services Pvt Ltd and Intellectual Capital Advisory Services Pvt Ltd. Tano Capital is an independent fund manager of two private equity funds: TIPEF-I and TIPEF-II, aggregating USD 211 mn. The funds are focused on providing growth capital to Indian companies across diverse sectors such as Consumer, Pharmaceuticals, Financial Services, Engineering and Manufacturing. Aavishkaar Goodwell is a for-profit business development company that provides equity finance and hands-on support to enterprises active in the microfinance sector in India on a socially and commercially sustainable basis. Aavishkaar Goodwell is a joint initiative of the teams behind pioneering global impact investment firm. Goodwell Investments and Aavishkaar India, the world’s first for-profit micro venture capital fund. Maj Invest is a Danish asset management company with about USD 12 bn under management, providing services in asset management and private equity. With headquarters in Copenhagen, Denmark, the company employs approximately 100 highly skilled professionals worldwide. Maj Invest was founded more than 18 years ago and is fully owned by management and employees. The financial inclusion business area is one of the several business areas of Maj Invest and operates on Maj Invest’s regulated institutional platform with its own dedicated team supported by the legal, finance, and administrative departments. The financial inclusion team of eleven people is based in Copenhagen and in regional offices in Lima, Peru and Mumbai, India. Maj Invest Financial Inclusion Fund II K/S (Fund II), was established in 2015 and has invested in seven companies around the globe. TR Capital is a leading secondary private equity investor in the Asia-Pacific region, with close to USD 1.5 bn of assets under management and focus on providing liquidity solutions to
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