India, 4 February 2019 – Incofin Investment Management, a leading global emerging markets impact investment firm, is pleased to announce the arrival of Rahul Rai as a new Partner of Incofin in India.
Rahul joins Incofin from Rabo Equity Advisors, a well-regarded private equity fund manager in the food and agriculture sector, where he was one of the founding members of the team. Rahul is well versed in the Indian financial services and agri-food sectors, with over 18 years of private equity, corporate banking, structured financial and risk assurance experience.
“We are delighted to have Rahul join the Incofin platform. With his solid background as an investor in agri-food, Rahul’s leadership will be a great asset as Incofin scales up its Indian investments”, commented Loïc De Cannière, Managing Partner of Incofin Investment Management.
“Incofin’s dedication to promoting inclusive growth in agri-food and financial services is very compelling” said Rahul. “To be a part of a global platform with localised expertise is unique, and I look forward to channelling its value offerings to benefit the growth of responsible entrepreneurship in India.”
Rahul is an alumnus of the Harvard Business School, Boston and has completed the Private Equity Program at the Indian School of Business. He is also a member of Institute of Chartered Accountants of India and holds an undergraduate degree in economics with Honours from Hindu College, Delhi University. With an 18 year impact track record of over $2 billion invested globally in financial inclusion and agri-food sector, Incofin has been present in India for over 10 years and invested in 12 companies. Incofin is today represented by its local office in Chennai, and through a new office in Delhi.
Current portfolio companies managed by our team in India include: Sohan Lal, a logistics warehouse operator which enables the farmer ecosystem to reduce crop wastage from 10 percent to 0.5 percent (a 95 percent saving) which has a positive impact on farmers’ income and the environment; and Save Solutions, one of the top 3 Business Correspondents in India, disrupting traditional banking services via process oriented and tech-enabled systems.
Notable exits by Incofin include the recent exit of its remaining stake in Fusion Microfinance, which focuses on servicing unbanked women living in the rural and semi-urban areas of northern and central India. At the time of exit, Fusion served more than 1.3 million customers and had over INR 2,200 crores in outstanding loan portfolio. Fusion represented the 4th successful full exit by Incofin in India, both in terms of impact and returns.
Incofin Investment Management is a global independent impact investment firm, focused on rural and agricultural finance, driven by a desire to promote inclusive progress. It is an AIFM licensed fund manager and has over USD 1 billion in assets under management. Incofin has a team of more than 50 professionals spread over the headquarters in Belgium and local investment teams in India, Colombia, Kenya and Cambodia.
Incofin currently manages the following funds:
• Rural Impulse Fund II (closed-end fund) invests in microfinance institutions that offer financial services in disadvantaged rural areas through debt and equity investments. RIF II focuses on investments in Africa, Asia, and Latin America.
• agRIF is a third generation (closed-end) fund, making equity investments in financial inclusion for the rural sector (smallholder farmers and rural micro-entrepreneurs). agRIF also provides debt investments in agricultural SMEs and agricultural focused financial intermediaries.
• The Fairtrade Access Fund (evergreen fund) contributes to the development of a fair and sustainable agriculture sector by providing working capital and long term financing for small
holder farmers. This evergreen fund is open to investors for commitments.
• Incofin CVSO (evergreen co-operative) specialises in debt and equity investments in the impact investments universe. It is a cooperative fund and open to retail investors.
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