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Hivos-Triodos Fund first international lender for IntelleGrow in India

28-10-2014 | Hivos-Triodos Fund has provided a loan of EUR 2.5 million equivalent in Indian Rupees to IntelleGrow in India.

Missing middle

Established in 2010 after being incubated within the IntelleCap group, IntelleGrow was founded in response to a distinct market need for 'missing middle' debt financing in India. It focuses on early stage small and medium-sized enterprise (SMEs) in specific segments with high social and environmental impact, such as agriculture, clean energy, healthcare and financial inclusion.

High impact sectors

Willem Enklaar, Fund Manager of the Hivos-Triodos Fund: “IntelleGrow fits perfectly as an extension to Hivos-Triodos Fund’s goal to catalyze growth in selected high impact sectors, specifically in agriculture and renewable energy. We look forward to enable further growth of IntelleGrow with our loan, which makes us IntelleGrow’s first international lender.”

Boosting clean energy

An example from IntelleGrow’s portfolio is the company Orb Energy. Over 40% of India's population does not have access to reliable and affordable energy services. Orb Energy manufactures, assembles and retails solar water heaters and photovoltaic systems for domestic and commercial uses. Multiple loans from IntelleGrow at various stages were instrumental in shortening Orb's working capital gap, facilitating business growth.

More information: www.intellegrow.com

About Hivos-Triodos Fund

Hivos-Triodos Fund Foundation (Hivos-Triodos Fund) was founded in 1994 as a partnership between Triodos Bank and Hivos. Hivos-Triodos Fund invests in microfinance institutions with a higher risk profile and which are active in underdeveloped markets that focus their services on vulnerable target groups. Building on the specific knowledge and experience present in Hivos and in Triodos Bank, Hivos-Triodos Fund has reserved funds for financing broad sustainable development in developing countries in the coming years. The focus will primarily be on renewable energy and sustainable agriculture.

Orb Energy - part of IntelleGrow's portfolio

Orb Energy - part of IntelleGrow's portfolio in India