International Finance Corporation (IFC), a member of the World Bank Group, is considering a proposal to invest up to $20 million in the latest India-focused venture capital fund of impact investment firm Aavishkaar Capital.
The likely investment is for Aavishkaar India Fund VI, which raised $130 million in its first close in April 2022. Aavishkaar seeks to raise more than $200 million in total commitments for the fund.