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Lok Capital
Lok Capital is an Indian impact investor founded in 2004 by Vishal Mehta and Venky Natarajan, backing financial inclusion, healthcare, and agri-tech...
Lok Capital
Since our founding in 2004, we have been one of Asia’s premier impact investors focused on backing companies working on solving some of humanity’s largest problems.
General information
Firm type
Private Equity
Year founded
2004
AUM
Undisclosed
Location
Region
Asia
Country
India
City
Gurgaon
Corporate office
Gurgaon, India
Principals
Vishal Mehta
Co-Founder & Managing Partner
Venky Natarajan
Co-Founder & Managing Partner
Sector focus
Frequently asked questions
How does Lok Capital define 'impact' in its investment strategy?
Lok Capital targets companies that deliver essential services — credit, healthcare, agricultural tools — to low-income and underserved populations across India. The firm measures impact through metrics like households reached, jobs created, and improvement in income levels. A dedicated impact measurement framework runs alongside financial due diligence for every investment.
What is Lok Capital's investment stage and typical check size?
The firm invests from early-stage to growth equity, with check sizes generally in the $2 million to $15 million range. It often leads or co-leads rounds in financial inclusion, healthcare services, and agricultural supply chain businesses.
Is Lok Capital still active, and what was its most recent fund?
Yes. Lok Capital closed its fourth fund in 2022, targeting $150 million. Initial funds focused heavily on microfinance institutions, while Fund III and Fund IV broadened the mandate to healthcare and agri-tech platforms.
What types of companies has Lok Capital backed?
Notable investments include Ujjivan Financial Services, a microfinance institution that listed on Indian exchanges, and Spandana Sphoorty Financial. The portfolio also spans rural healthcare delivery chains and digital platforms connecting smallholder farmers to markets.
How is Lok Capital funded, and who are its limited partners?
Lok Capital raises capital from development finance institutions, foundations, and institutional investors. Known limited partners across its fund vehicles include CDC Group (now British International Investment) and IFC.
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