Accion Venture Lab Completes First Successful Exit in India-Based Lender Varthana, Generating Financial and Social Returns

Date: 
17 Nov 2016
Source: 
PR Newswire

Accion Venture Lab, the seed-stage investment vehicle of financial inclusion leader Accion, announced today that it has successfully exited an investment for the first time. Venture Lab has sold its stake in Varthana, a company providing specialized loans and support to affordable private schools in India, promoting access to and the quality of education for India's poor and emerging middle class.

Venture Lab led the first institutional investment round in Varthana in May 2013. As of August 2016, with Venture Lab's active support, Varthana has supported more than 2,000 schools, 38,000 teachers, and one million students, and has disbursed more than USD 35 million to schools that serve lower and middle income Indians.

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Region: 
South Asia
Country: 
India