British International Investment

Amicus Capital Partners Private Equity I

IndiaSouth AsiaCommunications & IT servicesConsumer - HealthConsumer - other servicesFinancial servicesManufacturing

Amicus Capital Partners Fund I, which was launched in March 2015, is an Indian-focused fund, targeting investments in small businesses.

This is ACP’s maiden fund.

This investment was made when British International Investment was named CDC Group.

Our investment

Description of the investment.

In December 2016, CDC invested $25 million into Amicus Capital Partners Fund I.

The fund manager is building a portfolio of between 10 to 12 companies, and has raised a total fund size of $79 million.

The fund will make investments of $8 million to $20 million, including co-investments.

Our investment supports start-up firms in key sectors in the Indian market.

Expected impact

Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.

Start-up companies and entrepreneurs in India's healthcare, technology, consumer and financial services sectors have struggled to access working capital to scale up, once their business model has been proven.

By investing in these sectors, the fund manager aims to develop a business ecosystem and support sustainable development for investee companies, including helping them to maximise their use of technology.

Our investment will also attract other potential investors to the first-time fund.

In October 2017, the fund made an investment in online insurance aggregator, RenewBuy.

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

We work closely with the fund manager to develop and implement an ESMS.

Understanding our approach to environmental and social risk (PDF)

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to reportsandcomplaints@bii.co.uk or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at enquiries@bii.co.uk

  • Key facts
    Last updated

    When the last quarterly update of the website database occurred.
    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.
    :
    D108
    Status

    The current status of the investment (green flag for active and red flag for exited).
    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
    :
    South Asia
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Communications & IT services, Consumer - Health, Consumer - other services, Financial services, Manufacturing

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.
    Investment type :
    Fund
    Start date :
    December 2016
    Amount :
    $25m
    Currency of investment :
    USD
    Fund Manager:
    Amicus Capital Partners
    Domicile

    The company or investment fund’s place of incorporation.
    :
    Mauritius

    Download as PDF

    Click here to read our data guidance

Investments made by this fund into companies:

For further information about these companies, visit http://www.amicuscp.com/

Investment name Country Region Sector Start date Status
Aequs Ltd. India South Asia Manufacturing March 2023 Active
Altum Credo Home Finance Pvt Ltd India South Asia Financial services November 2021 Active
Awign Enterprises Private Limited India South Asia Communications & IT services September 2022 Active
Berar Finance India South Asia Financial services February 2020 Active
Capital SFB India South Asia Financial services June 2019 Active
D2C Consulting Services India South Asia Communications & IT services October 2017 Active
MoEngage India South Asia Communications & IT services December 2021 Active
Opendoors India South Asia Financial services March 2021 Active
Pep Technologies Pvt Ltd (mCaffeine) India South Asia Consumer - other services September 2020 Active
Pickrr Technologies Private Limited India South Asia Communications & IT services September 2021 Exited
Rivaara Labs Private Limited India South Asia Consumer - Health October 2022 Active
Wonderchef India South Asia Consumer - other services June 2018 Active

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