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Northern Arc Capital raises $10 million from US investor Calvert Impact Capital
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Calvert Impact Capital plans to use the fund towards on-lending to financial institutions as well as lending directly to retail customers and to mid-market corporates.
AFP
The investment is aimed a aiding small businesses and promoting gender equity, a cause that is strongly endorsed by both organizations.
Northern Arc Capital has raised $10mn debt from US-based impact investor Calvert Impact Capital, close on the heels of its raising $50 million from American development bank US International Development Finance Corp.
This is Calvert Impact Capital’s largest debt investment in India, Northern Arc said in a statement.