Cisco has invested an undisclosed amount in Aavishkaar, a $120 million venture fund founded to promote development in rural and semi-urban India. Cisco will invest in the fund, Aavishkaar India II Company Ltd., and will “collaborate with other investors to drive sustainable business models with social impact,” the company said.
Reinforcing its commitment to country transformation and inclusive growth, Cisco today announced an investment in Aavishkaar, a venture fund founded to promote development in rural and semi-urban India. Cisco will invest in Aavishkaar India II Company Ltd. (Aavishkaar II) and will collaborate with other investors to drive sustainable business models with social impact that utilize the power of the network. Working with Aavishkaar, Cisco aims to take advantage of its expertise and promote technology-enabled inclusive growth in the area of social entrepreneurship.
Cisco is committed to India and sees making investments in the country as an important way to learn about the local market, align technology innovation, and help spread the benefits of technology to a wider group of people. Over the past few years Cisco has committed up to $200 million of venture capital investments to the country, of which almost half has been utilized.
Cisco has a history of creating growth through direct investments and investment partnerships. Its direct investments in the region cover a broad spectrum of technology-related investments which are complementary to the growing scale and reach of the investments Aavishkaar will make in rural transformation.
Source: PE Hub