Intellegrow, an India-based subsidiary of Intellecap Group specializing in venture debt, and Symbiotics, a Switzerland-based firm investing in smaller companies, recently launched a small and medium-sized enterprise (SME) debt pool program, benefiting Indian entrepreneurs from “impact” sectors including, but not limited to, food and agriculture, healthcare, and waste management. The program’s first structured finance transaction, which pooled the needs of seven SMEs drawn from Intellegrow’s existing portfolio, “amount[ed] to approximately INR 320 million (USD 5.3 million)” issued as securitized bonds on European capital markets.
Since its inception in 2012 through 2016, IntelleGrow has disbursed loans worth approximately USD 70 million to approximately 125 SMEs. As of 2016, Symbiotics manages a portfolio of approximately USD 1.3 billion through 28 different investment funds.
By Michelle Dold, Research Associate
Intellegrow is a nonbanking financial company (NBFC) based in the city of Mumbai, India. It was founded in 2012 by Indian consultancy firm Intellecap Capital Advisory Services with support from Shell Foundation, a UK-based charity promoting social investment that was founded by energy firm Royal Dutch Shell. IntelleGrow offers debt financing, technical assistance and training to early stage companies that have a track record of at least 12 months of operations and revenues ranging from INR 100 million (USD 1.5 million) to INR 2 billion (USD 30 million). Since its inception in 2012 through 2016, IntelleGrow has disbursed loans worth approximately USD 70 million to roughly 125 small and medium-sized enterprises (SMEs) operating in the energy, agriculture supply chain, sanitation, healthcare, education and financial inclusion sectors.
About Symbiotics Group
Founded in 2004, the Switzerland-based Symbiotics Group provides investment intermediary and business services to investors in and practitioners of micro-, small and medium-sized enterprise (MSME) development. As of 2016, it manages a portfolio of approximately USD 1.3 billion assets through 20 different investment funds. The for-profit company also offers Syminvest, a microfinance investment information platform designed to increase transparency and enhance investment capacity in the industry by monitoring regional markets as well as individual institutions.
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