The Japan International Cooperation Agency (JICA) has invested $40 million in Aavishkaar Capital’s Global Supply Chain Support Fund, aimed at strengthening small and medium enterprises (SMEs) across Asia and Africa.
The announcement was made by Japanese Prime Minister Shigeru Ishiba at the Economic Partnership in Indian Ocean – Africa Forum, held alongside the Tokyo International Conference on African Development (TICAD 9) in Yokohama.
The Global Supply Chain Support Fund, managed by Aavishkaar Capital, provides non-dilutive growth capital to corporates involved in international supply chains. The fund focuses on sectors such as agriculture, food processing and manufacturing, with an emphasis on enterprises creating social and climate impact. It has already made eight investments across Asia and Africa.
“JICA has had a long-standing relationship with Aavishkaar in India. This investment reflects our continued commitment to supporting SMEs with high social and environmental impact across Asia and Africa,” said Mikio Hataeda, Senior Vice President, JICA.
Vineet Rai, Founder of Aavishkaar Group and Managing Partner at Aavishkaar Capital, said the partnership will build on over a decade of Indo-Japan cooperation in impact investing.
Monu Jain, Partner at Aavishkaar Capital, said the funding will help scale the reach of the Global Supply Chain Fund and enable SMEs to build more resilient supply chains.
The fund was set up in partnership with German development bank KfW and is the eighth vehicle managed by Aavishkaar Capital.
