Elevar Equity, an early stage venture capital firm investing in highly scalable businesses focused on low income communities, held the final close of its third fund, at $74m.
Elevar Equity III, L. P.,s’ investors include the Rockefeller Brothers Fund, Oblate International Pastoral Investment Trust, JPMorgan Chase & Co., Omidyar Network, Prudential Financial, Inc., the Rockefeller Foundation, Blue Haven Initiative, Treehouse Investments and multiple family offices, private foundations and a university endowment.
EE III focuses on commercial investments in early stage companies providing financial services, education, housing and healthcare to low-income communities primarily in India and Latin America. It has already made six investments including:
– Varthana, which combines financial services and education by providing loans and services to schools in India that serve millions of low income children
– Financiera TFC, a diversified financial institution focused on low income housing loans in Peru, and
– Indifi, an online platform connecting small businesses with formal lending institutions in India.
Led by Maya Chorengel, Co-Founder and Managing Director, Elevar Equity Elevar has been the founding or first institutional capital in companies focused on financial services, education, healthcare and housing. To date, it has invested in over 22 companies to date that have collectively raised $7 billion of equity and debt and have provided essential services to 18 million customers.
With the new fund, the firm manages over $165 million in committed capital.
Elevar has offices in Bangalore, Bogota, Colombia and Seattle.