VenturEast Fund Life III (the Fund) was launched on November 2010. The Fund invests in companies in sectors related to life sciences, including clean environment, health care, and sustainable agriculture, with proven technologies for application in India or that apply an existing business model from other markets that has yet to be proven or scaled up in the Indian context.
|Project Name||IND: VENTUREAST LIFE FUND III (VenturEast Fund)|
|Borrower/Company||VENTUREAST LIFE FUND III
|Type or Modality of Assistance||
|Strategic Agendas||Environmentally sustainable growth
Inclusive economic growth
|Drivers of Change||Private sector development
|Sector / Subsector||
Agriculture, natural resources and rural development - Land-based natural resources management
Energy - Energy efficiency and conservation
Health - Health care finance
|Gender Equity and Mainstreaming|
|Responsible ADB Department||Private Sector Operations Department|
|Responsible ADB Division||Portfolio Management Division, PSOD|
|Responsible ADB Officer||Taneja, Anshukant|
|Description||VenturEast Fund Life III (the Fund) was launched on November 2010. The Fund invests in companies in sectors related to life sciences, including clean environment, health care, and sustainable agriculture, with proven technologies for application in India or that apply an existing business model from other markets that has yet to be proven or scaled up in the Indian context.|
|Objectives and Scope||The Fund leverages the fund manager's life sciences platform and global network of leading life science technology investors, and the management team's experience making venture-style investments in these sectors, to identify and invest in life sciences-driven clean environment, sustainable agriculture and health-care businesses in India.|
|Linkage to Country/Regional Strategy||The investment in this Fund is aligned with ADB's Energy Policy which seeks to facilitate a transition to a low-carbon economy and universal access to energy as an important step toward achieving ADB's vision of a region free of poverty.|
|Status of Development Objectives||The Fund enabled the financing of early-stage businesses related to climate change mitigation and adaptation technologies, and environmental protection (climatech projects) in ADB's developing member countries (DMCs). The Fund's investment in climatech projects and the fund manager's ongoing management advice to investees increased access to finance and expertise in the sector. This led to accelerated innovation and diffusion of climate change technologies, which serves to make these climatech projects more competetive and affordable.|
Summary of Environmental and Social Aspects
|Environmental Aspects||The Fund has established and implemented an appropriate environmental and social management system (ESMS) and ensure that its investee companies meet national laws and ADB requirements.|
|Stakeholder Communication, Participation, and Consultation|
Timetable for assistance design, processing and implementation
|Concept Clearance||15 Nov 2010|
|Credit Committee Meeting||28 Mar 2011|
|Approval||20 May 2011|
|PDS Creation Date||08 Oct 2013|
|Last PDS Update||24 Sep 2014|
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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|Title||Document Type||Document Date|
|Proposed Equity Investments in Climatech Venture Capital Funds - REG: Aloe Environment Fund III; PRC: Keytone Ventures II; IND: VenturEast Life Fund III||Reports and Recommendations of the President||Apr 2011|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
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