India: Legatum invests $8.4-million in Intellecap

Oct 2007
Mumbai, India, October, 08 2007 - Legatum, a private firm that invests in global capital markets and in initiatives that support social development, on Monday said it has invested Rs 34 crore ($8.4-million) in Intellecap.

Intellecap provides business advisory services for investors and companies that seek both a financial and sustainable social return on investment.

"Intellecap is an innovative and entrepreneurial company that has created a unique niche, intermediating financial capital into development-oriented businesses operating in India's poorest communities," Legatum's Senior Vice-President Philip Vassilou said in a statement issued here.

"Intellecap will now seek to extend and develop its combination of world-class services and people, delivering independent, impartial and insightful enterprise solutions," he added.

Intellecap's Co-Founder 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."

Legatum's investment would ensure that Intellecap is positioned to build new initiatives in the field of finance and strategy in the micro-finance sector as well as other areas that benefit social and economic development.

"Sectors of focus for Intellecap will include health, education and technology. Intellecap also plans to expand its services in India and beyond, thereby providing investors with necessary support and expertise to identify and realise a wide range of opportunities," the statement added.


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