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Neev Fund I – Overview

Neev Fund I was conceptualized and launched in 2015 by Prime Minister of India Mr. Narendra Modi & former Prime Minister of United Kingdom Mr. David Cameron. The goal was to accelerate investments in Indian states that were unexplored by private investors. These investments would lead to job creation and sustainable growth while providing environmental and social benefits.

The registration details of the fund are as follows: 
Category of AIF: Category I, SEBI Registration No.: IN/AIF1/14-15/0114,
Name of Fund Manager: SBI Ventures Limited (formerly known as SBICAP Ventures Limited)

Investment Objectives and Sectors

Neev Fund I invested in opportunities that created sustainable economic, social, and environmental benefits in the target states, comprising some of the poorest regions in India.

Neev Fund I invested in companies that showed high growth potential, had commercially viable business models and positive impact on the society. The key areas of investment included Agriculture supply chain (cold storage, warehousing), Renewable Energy (solar, biomass, wind, hydro), Healthcare, Education, Clean Technology and Waste Management.

Mobilizing institutional capital

Neev I has successfully raised capital from institutional investors. Neev’s investment has also enabled its portfolio companies to raise capital from institutional investors.

ESG Investing

Neev I Fund is a leader in ESG and impact investing in India and is one of the most recognized funds focused on ESG. The Fund follows an ESG framework that is integrated across its lifecycle

Neev Fund’s Covid-19 Special Action

a INR 19.28 Crore facility to provide interim support to companies . One of the few funds to have conceptualized and implemented a liquidity relief structure for its portfolio companies.

Active Engagement Model

Neev Fund I is actively involved with its portfolio companies by providing strategic guidance, actively participating in organization building and ensuring high governance standards.

The fund has created more than 22,000 jobs, integrated an ESG framework in its fund cycle and improved the corporate governance across its portfolio companies, and aims to positively impact over 4 million lives.

Neev Fund’s Portfolio

United Sustainable Energy India Private Limited (USEIPL)

USEIPL is the renewable energy arm of the UTL group. have an installed capacity of 100MW of Wind and 6MW of Solar projects in operation, with a further pipeline of over 200MW capacity under various stages of development.

Milk Mantra Dairy Private Limited

Milk Mantra is an Odisha based manufacturer and marketer of milk and milk based products with the objective of building an innovative dairy products business while creating sustainable impact among farmers. It has a production capacity of 264,000 LPD for packaged milk, 3,000 KPD for paneer and 38,500 KPD for curd and over 69,000 farmers are part of its procurement network.

Crystal Logistic (Cool Chain) Ltd. (CLCC)

CLCC is one of the leading service providers in the integrated cold chain logistics solution space. Crystal group is a complete supply chain service provider with services such as refrigerated warehousing, cold stage distribution and innovative solutions.

SunSource Energy Pvt. Ltd.

SunSource is a Noida based company, which develops, engineers, procures constructs, and operates solar power plants (special focus on rooftops) and projects for institutional, industrial, commercial, and non-profit sector. It has designed power plants over 1 GW globally and has worked on more than ~100 MW PV plants across 18+ states in India. Neev Fund has successfully exited its stake in SunSource in 2021.

Mahendra’s Educational Private Limited (MEPL)

Mahendra’s is a leading educational brand based out of Lucknow which provides coaching for the Bank PO, Railway recruitment and SSC exams. It has nearly 50 centers and over 60 franchisee partners Pan-India. It also operates in the skill development and training Business with 31 centers currently in line with National Skill India Mission.

Lakshmi Agri Logistics Pvt. Ltd. & Leap India Food and Logistics Pvt. Ltd.

Leap India is and agri-storage solutions provider for food grains under the Govt. of India schemes rolled out by Food Corporation of India and other state bodies. It provides innovative storage solutions by building modern grain storage silos and helping the farmers by providing them the right price for their produce.

Rahi Care Pvt. Ltd.

Rahi Care, based out of Chandigarh, has a chain of 58 dialysis centers with 373 dialysis machines in the following cities viz. Kullu, Mandi, Dharamshala, Solan, Haldwani, Hisar, Ludhiana, Chandigarh, Bhubaneshwar and other parts of Odisha. The Company operates under three broad segments i) PPP centers in government hospitals, ii) private standalone centres, iii) Private In-hospital centres. It provides affordable healthcare to the underprivileged sections of the society.

Blue Planet Environmental Solutions Pvt. Ltd.

Blue Planet is a company promoting the business of circular economy. It is engaged in the business of waste collection, transportation, segregation, processing, treatment and disposal activities in India. It strives to create a net positive impact through its triple bottom line approach i.e. ‘People, Planet and Profit’ leading to Net Positive Impact. The platform has acquired majority positions across businesses in India, South-East Asia and UK.

IAN Fund (IAN Consultancy LLP)

Through IAN Fund, Neev will expand its reach and invest into more number of investments of smaller ticket size, in-turn building on a diverse portfolio of investments that create impact and scale in infrastructure sectors. These sectors will enable development of entrepreneurial culture in India, mostly in the start-up and growth phase. The IAN Fund has made 72 investments as on March 30, 2022, investing approximately 288.6 Cr

Punjab Renewable Energy Systems Pvt. Ltd.

PRESPL, incorporated in 2011, holds a dominant position in the bioenergy supply chain management industry with experience across products and geographies to handle a supply of over 1,000 MT/day. The company enters into fuel supply agreements with clients and provides guarantee on biomass fuel quantity and quality. In the last couple of years, the company has diversified from biomass supply and consultancy to manufacturing of briquettes, steam O&M and BOOT contracts.