Chiratae Impact Report 2023

Mumbai : Chiratae Ventures focus on key developmental thematic areas are contributing to 12 of the 17 United Nations Sustainable Development Goals, helping to bridge the gap in India’s development targets.

In its latest Impact Report, launched earlier this week by Kris Gopalakrishnan, Chairman, Axilor Ventures, and Co-founder of Infosys and Manish Choksi, Vice-Chairman, Asian Paints. Chiratae highlights the impact created by its portfolio companies and their contribution towards United Nations Sustainable Development Goals (UN SDGs).

The report captures cumulative self-reported data of Fund III and IV portfolio companies (that reported data) since Chiratae first invested. It also captures key highlights for the financial year 2023 (April’22 – March ’23). Chiratae measures the impact created by its portfolio quarterly and periodically reports it to its investors and stakeholders.

Chiratae’s impact strategy centres around six key developmental thematic areas: Under-served Geographies, Under-served Target Groups, Gender Equality, Climate Action, Employment and Employability, and Support for Nano-entrepreneurs & MSMEs.

The third edition on the report highlights the accomplishments of its portfolio 

companies in Fund III and Fund IV. Together, they have positively impacted approximately 92.7 million individuals in India and have provided crucial support to around 3.9 million farmers through innovative technology solutions with a notable focus on gender inclusivity, as 42% of beneficiaries are female. 

The report also captures that in the healthcare sector, Chiratae’s portfolio companies have addressed the eyewear needs of around 23 million people and provided approximately 24 million free vision tests, promoting well-being and accessibility.

Chiratae’s Fund IV has been proudly recognised as a “2X investment” under the “Fund” criteria by one of our Development Finance Institute (DFI) LP – set forth by the 2X Challenge (financing for women).

Additionally, its portfolio companies dedicated to advancing agricultural technology have made significant inroads, reaching 3.9 million farmers, with 2.1 million smallholders in India. Its portfolio is also actively promoting financial inclusion in India, facilitating approximately 1.4 million loans in FY23. Furthermore, their reach in inclusive finance extends to over 14.8 million people, with 23% residing in tier 2 and smaller towns in India. 

On the report’s launch, Sudhir Sethi, Founder and Chairman, of Chiratae Ventures stated, “Our portfolio has strengthened the grasp on Tier 2 and smaller towns in India, thereby wiring innovations and technologies into the grassroots levels of our country. Noteworthy and impactful insights from our investments reveal that for every dollar Chiratae invested, more than two units/transactions were enabled. Furthermore, every $7 investment positively impacted a female customer or female-owned business, and every $4 investment influenced the life of more than one stakeholder customer, employee, business enterprise, supplier, or trainee.”

In consonance with Chiratae’s dedication to responsible investing, both Funds III and IV are fully ESG-integrated. This comprehensive approach seamlessly incorporates environmental, social, and governance considerations throughout the investment cycle. By doing so, we can effectively identify, manage, report, and monitor risks and opportunities, thus safeguarding against potential threats.

Note: All the impact data in the disclosure has been self-reported by investees and is cumulative impact unless otherwise mentioned.

About Chiratae

Chiratae Ventures is a 17-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across 6 funds) have $1.2 Bn AUM, 130+ investments, 50 exits, 8 Unicorns, 3 IPOs and, a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, CureFit,PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others.

www.chiratae.com.