Caspian

Caspian Impact Investments Private Limited is a venture capital firm based in Hyderabad, India, that specializes in growth capital investments in seed, startup, and early-stage companies. The firm focuses on making debt and equity impact investments primarily in microfinance institutions and sectors such as food and agriculture, clean energy, financial services, small business financing, and affordable housing. Caspian aims to address the needs of low-income and informal sector populations by supporting enterprises that deliver both financial returns and social value. The firm also manages funds that target investments in agriculture and commercial services, emphasizing sustainable business practices and improving access to financial resources in underserved markets.

Gupta, Avishek

Managing Director and CEO, Caspian Debt

Aakash Kumar

Associate

B V Narasimham

CEO and Investment Director

15 past transactions

Ecozen

Series C in 2022
Ecofrost - solar powered, portable cold room based on thermal energy storage, Ecotron - smart controller for irrigation pumps, Eco-Connect - platform that connects farmers growing perishables with organized buyers. Ecofrost helps farmers growing fruits, vegetables, and flowers to radically increase the shelf life of their produce, allowing them to target farther markets and increase their profitability. Ecotron is a leading solar pump solution in India, embedding IoT & efficient motor technology to provide the most efficient irrigation solution for farmers alongwith remote monitoring, diagnostics, and predictive analytics. Ecotron has demonstrated a clear competitive edge in its existing markets by retaining a major market share nationally. Eco-Connect is a market linkage platform for farmers growing perishables, connecting them digitally to potential buyers, including exporters, retailers, and processors. Eco-Connect is unique as a marketplace because of its cold chain integration.

GPS Renewables

Series B in 2022
Green Power seeks to solve the urban waste problem by utilising local technologies and business models. In India, 25% of the 75,000 tonnes of biodegradable waste produced comes from mass kitchens in tier I cities. This market, which is estimated at USD 3 bn, is the market that Green Power Systems focuses on. Green Power Systems has developed a waste-to-energy reactor called BioUrja (pending patent), a highly compact design producing 7 kg worth of LPG for every 100 kg bio-waste. Green Power Systems have also developed a GPS shredder, designed specifically for wet waste and GPS dewatering systems, separating solids from mixtures.

Veritas Finance

Secondary Market in 2021
Veritas Finance focuses on meeting the financial needs of the micro, small, and medium enterprises. Veritas Finance Private Limited is an organization started with the primary intention of reaching out to the customers who either have no access or inadequate access to financial services in the informal sector. 'Veritas' in Latin means truth. True to its name, Veritas is focused on making a true impact through inclusive access to financial services on the customers engaged in informal activities. The company is run by professionals with rich experience in the financial services industry that aims to make availing credit easy to this segment and make a positive impact on the lives of millions of Indians engaged in informal activities and who actually build the nation.

Skymet Weather

Debt Financing in 2021
Skymet Weather designs web and mobile based climate, weather, and crop analytics platform that measures and predicts climate risk for agriculture insurance companies, banks, and public sector institutions in India. The company's climate, weather and crop analytics platform enables users to mitigate weather risks, thereby supporting farmers to cope with the consequences of climate change and organize themselves around their changing environment by providing an updated information regarding weather change through automatic weather stations. It also offers lightening detection network to track thunderstorms in real time.

Moneyboxx Finance

Post in 2020
Moneyboxx Finance provides easy access to financing to the deserving micro enterprises.

Ecozen

Series A in 2019
Ecofrost - solar powered, portable cold room based on thermal energy storage, Ecotron - smart controller for irrigation pumps, Eco-Connect - platform that connects farmers growing perishables with organized buyers. Ecofrost helps farmers growing fruits, vegetables, and flowers to radically increase the shelf life of their produce, allowing them to target farther markets and increase their profitability. Ecotron is a leading solar pump solution in India, embedding IoT & efficient motor technology to provide the most efficient irrigation solution for farmers alongwith remote monitoring, diagnostics, and predictive analytics. Ecotron has demonstrated a clear competitive edge in its existing markets by retaining a major market share nationally. Eco-Connect is a market linkage platform for farmers growing perishables, connecting them digitally to potential buyers, including exporters, retailers, and processors. Eco-Connect is unique as a marketplace because of its cold chain integration.

WayCool

Series B in 2019
Waycool is an agri-tech company that processes, distributes, and procures fresh produce, dairy products, and staples. The company helps increase farmers’ income, through innovative quality management and food safety technology. It leverages technology and innovation to improve logistics and distribution services. Waycool distributes farm-sourced fruits, vegetables, and other produce to local shops and modern retail outlets. They have a retail presence, currently in Chennai, through the brand SunnyBee, operating retail stores, mobile stores on trucks, and e-commerce. In addition, there are a number of high-quality private label products that SunnyBee produces and brands through partnerships with sister companies. WayCool establishes direct links to farmers and consumers using physical and information technology to link them efficiently.

Ecozen

Series A in 2018
Ecofrost - solar powered, portable cold room based on thermal energy storage, Ecotron - smart controller for irrigation pumps, Eco-Connect - platform that connects farmers growing perishables with organized buyers. Ecofrost helps farmers growing fruits, vegetables, and flowers to radically increase the shelf life of their produce, allowing them to target farther markets and increase their profitability. Ecotron is a leading solar pump solution in India, embedding IoT & efficient motor technology to provide the most efficient irrigation solution for farmers alongwith remote monitoring, diagnostics, and predictive analytics. Ecotron has demonstrated a clear competitive edge in its existing markets by retaining a major market share nationally. Eco-Connect is a market linkage platform for farmers growing perishables, connecting them digitally to potential buyers, including exporters, retailers, and processors. Eco-Connect is unique as a marketplace because of its cold chain integration.

Aptus Value Housing Finance India

Venture Round in 2016
Aptus Value Housing Finance India Ltd is a Housing Finance Company, Registered and Certified by National Housing Bank, (a part of RBI). Aptus has been formed to primarily address the housing finance needs of self employed, informal segment of customers, belonging to middle income, primarily from semi urban and rural markets. Despite the vibrant growth of the housing finance sector especially over the past few years, India still has one of the most severe housing shortages today in Asia. The majority of India’s population, and especially the self employed, business segment from semi urban areas, lack access to housing finance. There is thus an urgent need to respond to the needs of this segment. Aptus would be catering to the needs of these customers.

Micro Housing Finance Corporation Limited

Private Equity Round in 2013
Micro Housing Finance Corporation Limited (“MHFC”) was incorporated on May 16, 2008 with the objective to provide housing finance for lower income households (mostly in the informal sector) in urban India. One of the issues stalling the development of low income housing is the lack of finance available to lower income households (especially those without documentation to prove incomes) to buy such homes. MHFC was set up to specifically address this gap. The company has received the necessary regulatory clearance from the National Housing Bank ("NHB") in the form of the Certificate of Registration ("COR").

Equitas Holdings

Venture Round in 2012
Equitas Holding Ltd is an India-based company operating in the business segment of Core investment operations. It is engaged in investing in and providing loans to group companies. The group derives revenue from Interest income, Rental income, Profit on sale of an investment, Revenue from contracts with customers, Net gain on fair value changes and guarantee income, of which a majority of revenue is earned from the interest income. Its subsidiaries are involved in carrying the business of small finance banks and freight aggregation. Geographically, the group operates in India.

Jana Small Finance Bank

Series C in 2012
Janalakshmi Financial Services is a for-profit NBFC serving the urban underserved, with the promoter stake held in the not-for-profit entity Janalakshmi Social Services. This is the only NBFC in India structured in such a manner, with the deliberate intent of keeping the social spirit intact. Janalakshmi Financial Services' market-based approach to financial inclusion is defined by three distinct characteristics: first, an exclusive focus on servicing the needs of the urban poor; second, a strong customer-value driven approach in designing financial products and services; third, the centrality of technology and processes as the foundation of a scalable enterprise.

Jana Small Finance Bank

Series B in 2010
Janalakshmi Financial Services is a for-profit NBFC serving the urban underserved, with the promoter stake held in the not-for-profit entity Janalakshmi Social Services. This is the only NBFC in India structured in such a manner, with the deliberate intent of keeping the social spirit intact. Janalakshmi Financial Services' market-based approach to financial inclusion is defined by three distinct characteristics: first, an exclusive focus on servicing the needs of the urban poor; second, a strong customer-value driven approach in designing financial products and services; third, the centrality of technology and processes as the foundation of a scalable enterprise.

A LITTLE WORLD

Series B in 2008
ALW is the developer of ZERO, India’s first domestic payment system with specific focus on reaching out to masses with lowest available communication infrastructure.

Jana Small Finance Bank

Series A in 2008
Janalakshmi Financial Services is a for-profit NBFC serving the urban underserved, with the promoter stake held in the not-for-profit entity Janalakshmi Social Services. This is the only NBFC in India structured in such a manner, with the deliberate intent of keeping the social spirit intact. Janalakshmi Financial Services' market-based approach to financial inclusion is defined by three distinct characteristics: first, an exclusive focus on servicing the needs of the urban poor; second, a strong customer-value driven approach in designing financial products and services; third, the centrality of technology and processes as the foundation of a scalable enterprise.
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