Back to the menu
Kalibrio has selected articles and events related to "Social Venture Forum" to inform, inspire and encourage to act in favor of harmonious development through Social Ventures.
If you have comments or content that you would like to submit
to the Social Venture Forum community, contact us:
, Nonprofits Launching $17 Million Indian Investment Co
February 19, 2008: 12:44 PM EST
DOW JONES NEWSWIRES
Google Inc.'s (GOOG) Google.org, the Soros Economic Development Fund and Omidyar Network, founded by eBay founder Pierre Omidyar, said Tuesday they will create a new $17 million small to medium investment company for India.
The philanthropic groups said the venture will create job opportunities and and spur "greater economic participation" for a largest segment of the population.
The investment company will target companies, which fall in between microloans and the larger investments from commercial banks and private equity funders, with investments of $500,000 to $3.5 million.
The philanthropic groups named Reuben Abraham, currently the Indian School of Business's director of the Base Pyramid Lab and a board member of the Soros Economic Development Fund, as senior adviser. They plan to locate the investment advisor at the Indian School of Business in Hyderabad.
-Amanda Harris Falls; 201-938-5400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
Copyright (c) 2008 Dow Jones & Company, Inc.