David Hutchison, chief executive, Social Finance UK. New Delhi: To stimulate India’s impact investment space, Social Finance Global Network and Global Steering Group for Impact Investment (GSG) has set up a non-profit impact intermediary, Social Finance India (SF-IND) that would incubate GSG’s twin impact funds, each estimated to reach up to $1 billion. For scaling up its outcome focused funds, SF-IND will collaborate with governments, non-profits, for-profit impact enterprises, philanthropic foundations, and impact investors, and join the global network of Social Finance UK, Social Finance US, and Social Finance Israel to mobilise India’s investment capital for social change. David Hutchison, chief executive, Social Finance UK, says the impact network would bring global knowledge, experiences and mindset into the country’s impact sector but would work on development of models that would take into account local dynamics and challenges. Amit Bhatia, GSG’s chief executive in India, says because SF-IND’s role is to unlock capital for the social sector, GSG sought to find leaders who share experience in private equity, venture capital and social or environment impact and philanthropy.

Source: Mint May 14, 2018 13:52 UTC