British International Investment

Faering Capital Fund III

IndiaSouth AsiaCommunications & IT servicesConsumer - HealthConsumer - other servicesFinancial servicesFood & Agriculture

Faering Capital Fund III aims to provide growth capital to mid-market companies in India in sectors such as financial services, consumer products and services, healthcare, and logistics to tap into the country’s consumer growth.

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

Our investment

Description of the investment.

In 2017, CDC invested $25 million into Faering Capital Fund III, alongside other DFIs and foreign institutional limited partners.

Faering Capital is targeting to raise $200 million to provide much-needed growth capital to mid-market companies in India.

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.

Fundraising for India’s private equity market has been difficult, and the sector is at a critical point in its development. Our investment will aim to help address the critical gap in the access to finance for mid-sized companies.

As well as patient capital to support their growth, the fund will provide strategic expertise and guidance to investee companies.

The Faering team has already invested in three companies, including Prataap Snacks, a packaged snacks company with a pan-Indian presence in semi-urban and rural markets; and Utkarsh Small Finance Bank, a micro-finance institution catering to lower income groups in urban and rural areas.

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 will work closely with the fund manager to improve its existing ESMS, including hiring a dedicated environmental and social manager.

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.
    :
    D1990
    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, Food & Agriculture

    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 :
    November 2017
    Amount :
    $25m
    Currency of investment :
    USD
    Fund Manager:
    Faering Capital Advisors LLP
    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 https://www.faeringcapital.com/

Investment name Country Region Sector Start date Status
Anthem BioSciences – Viridy Tone India South Asia Consumer - Health June 2021 Active
BookMyForex India South Asia Communications & IT services February 2016 Active
Computer Age Management Services Private Limited India South Asia Financial services April 2019 Exited
Finova Capital Private Limited India South Asia Financial services March 2019 Active
FSN E Commerce Ventures Private Ltd (Nykaa) India South Asia Consumer - other services November 2020 Exited
Go Digit India South Asia Financial services January 2020 Active
Max Bupa HI India South Asia Consumer - Health December 2019 Active
Prataap Snacks India South Asia Food & Agriculture June 2016 Active
Pureplay Skin Sciences India South Asia Consumer - other services November 2020 Active
Utkarsh Small Finance Bank India South Asia Financial services October 2017 Active
WheelsEMI India South Asia Financial services December 2018 Active

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