Unitus Seed Fund launches, makes three investments
Earlier this month, Unitus Seed Fund launched a seed stage venture fund targeting businesses in India that make large-scale impact on poverty. The fund invested in Bodhicrew Services, Hippocampus Learning Centres, and Milaap Social Ventures. Although the exact investment amounts in these companies is not known, Unitus Seed Fund provides a maximum initial investment size of $100,000.
Bodhicrew Services focuses on skill development, especially for the unorganized sector. The company focuses on the domestic workforce and provides a one-stop solution for employers looking for well-trained and reliable workers. In the next four years, Bodhicrew aims to reach 100,000 workers.
Hippocampus Learning Centres focuses on education and establishes affordable learning centres in villages offering preschool and after school programs. Over the next 3-5 years, HLC hopes to reach out to more than 3,000 villages, employing 12,000 teachers and reaching out more than 300,000 children annually.
Milaap is an online platform that enables anyone around the world to lend to India’s poor, allowing for lower interest rates than with microfinance institutions. Through these microloans, Milaap hopes to reach 20,000 families in the next few years.